OP Prostejov result shows the Czech industry is struggling
13/08/2009
The Czech Republic's largest textile firm, Odevni podnik (OP) Prostejov, ended last year in a record loss of $60 million. The company published its annual report for 2008 on August 12.
A strong local currency and competition from Asia were the main reasons the company gave for a fall in sales and profits. The company has also reduced its workforce by 33%.
It said it hoped a move to more sports and casual clothing might help it recover in years ahead.
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