NZ WSI reports $1.036 million profit

摘要

Leading wool exporter NZ Wool Services International Limited (WSI) has reported a tax paid profit of NZ$1.036 million for the six months to 31 December 2008, a reduction on the NZ$1.112 million profit reported for the equivalent period in 2007. Michael Dwyer, managing director of WSI, which exports around 40% of New Zealand's strong wool clip, says that in particularly challenging circumstances, the result is an excellent one. "This period has seen unprecedented upheaval in international financial markets, which has flowed swiftly and savagely through the wool sector. Impacts on our business have included the sharp devaluation of the New Zealand dollar; significant reductions in New Zealand wool prices; and a major slowdown in international demand for wool. We have suffered from contractual problems associated with these effects."