Mirza International reports Q2 profit increase - footwearbiz: Leading

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Mirza International reports Q2 profit increase

18/10/2006

India-based leather and shoe manufacturer Mirza International has posted improved second quarter results. Net profit totalled Rs8 crore ($1.77 million) from Rs2.6 crore in the second quarter 2005. Net sales were Rs85.1 crore compared with Rs55 crore.

Shoes accounted for 75% of sales versus 86% while tanning accounted for 25% compared with 14%.

The company is forecasting revenues of Rs100 crore as a result of new EU anti-dumping duties affecting China and Vietnam.

It produces shoes, shoe uppers, chrome leather hides and leather goods. 80% of production was exported this year, 85% of which went to the EU.


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