The business revenue and profits of large scale textile enterprises registered a year-on-year climb of 15.46 percent and 3.20 percent, respectively, in August 2008. This indicates a clear slowdown in industrial growth rate, and a continued downward trend since late-2007.
Loss proportion in the first 8 months was 21.33 percent. Gross margin of domestic textile industry was 10.82 percent during the period, basically flat with the same time last year, but industry profit margin declined due to increased production expenses.
During the period, operating expenses and financial costs showed a year-on-year rise of 17.03 percent and 22.40 percent, respectively, both exceeding the growth in business revenue.
In addition to export pressure, currently domestic textile and garment enterprises are also facing difficulties like hike in raw materials and labour prices.
Fibre2fashion News Desk - China
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