Grendene reports 11% drop in revenue
13/04/2006
Brazilian footwear manufacturer Grendene S/A, based in Farroupilha, Rio Grande do Sul, recently reported consolidated gross revenues of $640 million in 2005, an 11% decrease from the $723 million posted in 2004. Domestic sales and exports fell 9% and 22% respectively last year. Net consolidated revenues dropped 11.8% to $506 million. Net profit fell 3% to $92.5 million.
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