Thai instant noodle maker President Miuzhou Foods has been dissolved after profits fell last year and this year. The unit is part of President Foods of Thailand, which itself reported profits down by 55.8%.
Turnover fell by 6% while costs rose from Bt89m to Bt171m in the second quarter of 2000. The main reason for the slump was a write up of Bt93m in losses form credit to one of the group’s customers.
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