Revenues grow by 24.6% at Pacific Textile Holding

05 Aug '10

4 min read

We are making satisfactory progress in the Bangladesh joint venture. The land for our integrated fabric and garment factory was acquired and the design of the factory is underway. However, to speed up our learning curve, the joint venture leased an industrial building and started the garment operation in early 2010. Despite the small operating scale, the setup enables us an early star t for familiarising the local business practice and training our workers.

The Group successfully adopted efficient working capital management and stringent cost containment measures during the year. We made headway on improving our operational efficiency through technological innovations and regular upgrades of equipment in the existing production plants.

Outlook
It is anticipated that the Group's business will benefit by the economic growth momentum of China and the gradual recovery of the international economy in the coming year. I would, however, like to add a note of cautiousness though, on the rise of commodity prices and production costs, RMB appreciation and the uncertainty of a long-term stable and vibrant economic growth. All this guard us against any over-optimism.

Indeed, the prevailing tough operating environment will continue to exert pressures on industry participants and poised for further industry consolidation. In view of this, the Group will continue to enhance its competitive edges to grasp the opportunities arising from this challenge. We will also strive to implement further stringent cost control measures and streamline existing operations and structures to further enhance operational efficiency and profit margin.

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Pacific Textiles Holding Ltd

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