Home / Knowledge / News / Textiles / Queensland Cotton declares $3mn cut in profit forecast

Queensland Cotton declares $3mn cut in profit forecast

05
Feb '07
Poor performance of its business units owing to drought has led Queensland Cotton to announce a $3 million slash in the earlier forecast of annual net operating profit.

Queensland Cotton, the largest diversified cotton group in Australia, has declared the amended operating profit after tax forecast for financial year ending February 28, 2007 to be between $2 million and $4 million, which is $3 million less than previously predicted.

Activities of the company's seed, pulse and rural merchandizing facilities have been hampered by prolonged drought conditions.

Heavy trading income from this season's cotton produce could be obtained in the next fiscal instead of the current one because US has cancelled the primary export subsidy program. US cotton exports to global markets have declined as a consequence.


Must ReadView All

Pic: Shutterstock

Apparel/Garments | On 28th Sep 2021

California 1st US state to require hourly wages for garment workers

Taking historic and decisive action to help keep workers safe on the...

Pic: ADB

Textiles | On 28th Sep 2021

ADB approves $250-mn loan to support Bangladesh’s economic recovery

The Asian Development Bank has approved a $250-million policy-based...

Pic: Shutterstock

Textiles | On 28th Sep 2021

US 2020-21 cotton exports highest in 15 years

Spurred by record global imports, US cotton exports in 2020-21 were...

Interviews View All

Textile Industry, Head honchos

Textile Industry
Head honchos

Led by MMF, Indian apparel exports likely to double in next 3 years

Textile Industry, Head honchos

Textile Industry
Head honchos

Quality & affordability to affect market acceptability of new fibres

Textile Industry, Head honchos

Textile Industry
Head honchos

Multi-functional garments will be next big thing

Rishav Bajoria & Subham Sengupta,

Rishav Bajoria & Subham Sengupta

Launched in October 2020, the Gumti app could not have come at a more...

Daniele Uboldi,

Daniele Uboldi

EptaInks is the screen-printing division of Eptanova, a company that...

Klaus Bergmann,

Klaus Bergmann

German company Erbatech GmbH develops, designs and manufactures high end...

 Natacha Defeche, Edana

Natacha Defeche
Edana

Since 1971, EDANA, the International association serving the nonwovens and ...

Giulio Cesareo, Directa Plus

Giulio Cesareo
Directa Plus

UK-based Directa Plus is one of the largest producers and suppliers...

Daniel Kaye, RocketLife

Daniel Kaye
RocketLife

<div>RocketLife, an award-winning developer of breakthrough visual...

Abhishek Bajaj & Samiksha Bajaj, Samshek

Abhishek Bajaj & Samiksha Bajaj
Samshek

Samshek is a fashion forward tech brand which combines digital experience...

Raghavendra Rathore, Label Raghavendra Rathore Jodhpur

Raghavendra Rathore
Label Raghavendra Rathore Jodhpur

Being one of the first designers to use the "Brand India" positioning for...

Abhishek Agarwal, Purple Style Labs

Abhishek Agarwal
Purple Style Labs

Late Indian fashion designer Wendell Rodricks, is known for his...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


September 2021

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.


Advanced Search