KEY POINTS:
Textile design company Pod, soon to be delisted following takeover by LWR, yesterday reported its June year net loss had narrowed to $910,000 from $6.4 million a year earlier.
It blamed an unfavourable exchange rate for remaining in loss with exchange losses of $2.55 million. The result included a one-off gain of $848,000 and, excluding that, the loss was $1.76 million.
The one-off was a reversal of an impairment provision for Designer Textile International's plant & machinery following an independent valuation.
Exports drove up Designer Textile's revenue but the high dollar hurt gains. No dividend was declared.
