WEAK demand in the US and continental Europe for lace and hefty reorganisation costs in Britain conspired to drive clothes to home furnishing group, Courtaulds Textiles, into the red, according to half year results yesterday.
The six months to the end of June is traditionally the weaker half for the company, but pre-tax profits in the period last year of £6.4 million sterling were converted into losses of £8.5 million in 1996. Shareholders will receive a maintained interim dividend of 5.2p.
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