AUSTRALIA: Parmalat bullish despite three-year losses down under
The Australian subsidiary of Italian dairy giant Parmalat remains confident of long-term success despite reporting significant losses over the last three years. According to the Herald and Weekly Times, Parmalat has lost A$100m (US$55.4m) since it moved into Australia with a vengeance with the acquisition of Pauls in 1998. Analysts are reported, however, as saying that Parmalat remains likely to recover well in Australia despite its poor recent performance.
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