Colyer Mair sale completed

Chairman, Alastair MacCormick, says the sale to Lowe Corporation was completed Monday and, subject to final accounts, was a $5.5 million premium over book value.

Mr MacCormick says the sale price was received in cash and will be used to support existing businesses. It is being recorded in the company's half-year report to the end of June, 2001.

In its interim report the company said that profits are now starting to flow from its leather operation in China, which remains in expansionary mode.

For the six months ended June revenue at the China leather business more than doubled to $107.5 million, accounting for just under 30% of total revenue of $373.5 million.

Comments from our readers

No comments yet

Add your comment:

Your name:
Your email:	Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Anti-spam verification:

Type the text you see in the image into the field below. You are asked to do this in order to verify that this enquiry is not being performed by an automated process.