Recognising the “significant deterioration” in the company’s business and prospects, KH Foods has revised its forecasts for the next three years.
Go deeper with GlobalData
In a statement to the Australian Stock Exchange, the company said it was now anticipating losses of AUS$19.2m and AUS$6.1m in 2006 and 2007 respectively.
The company said that it needed to restructure its operations. If this can be completed successfully, the board of KH Foods predicts a return to profitability in 2008.
The restructuring efforts will be funded by loans from Washingtin H Soul Pattinson and Co, who has a 53.26% stake in KH Foods.
The company has proposed the appointment of Tony Sherlock to chair an executive committee responsible for the restructuring efforts following the resignation of managing director Don Taig.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData
