PGR News from the Pacific

Posted 11:58 PM by Luigi

$200,000 loss for top coconut furniture firm

From the Fiji Times, Monday, April 02, 2007

THE country's leading manufacturer and exporter of palmwood furniture, Pacific Green Limited has announced a loss of $200,000.

But management of PGL was adamant that the company's performance was very impressive especially since the company had overcome many difficult situations over the past year.

PGL Chairman, John Holmes said the management had fulfilled its responsibility of establishing the company's position as the pre-eminent palmwood furniture manufacturer in the world.

Mr Holmes said the loss incurred could be attributed to restructuring costs and the closing of the warehousing operations in Australia. He also said other issues like US market development costs affected their financial position.

He said the company's financial performance had to be viewed in harmony with two major advances. "Firstly, there is the consolidations of our strong design, manufacturing, marketing and consumer chain," he said.

"This stretches from St Petersburg and all around the Pacific."

"Secondly, we have established, from the ground up, a world class factory in Dongguan City. This is located perfectly as it enables us to supply consistent quality production at a realistic profit into all our markets," Mr Holmes said.

He also said the fire that destroyed their factory in Sigatoka dealt a major blow to their operations.

Mr Holmes said the closure was a major impediment that affected decisions that included the structure of the subsidiary company in China and the rebuilding in Fiji.

Mr Holmes said while Fiji was the heart of operations, their goal was to develop operations locally to ensure it was able to compete with Asia operations.



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DIVA-GIS	Sunday, April 01, 2007 Posted 11:58 PM by Luigi $200,000 loss for top coconut furniture firm From the Fiji Times, Monday, April 02, 2007 THE country's leading manufacturer and exporter of palmwood furniture, Pacific Green Limited has announced a loss of $200,000. But management of PGL was adamant that the company's performance was very impressive especially since the company had overcome many difficult situations over the past year. PGL Chairman, John Holmes said the management had fulfilled its responsibility of establishing the company's position as the pre-eminent palmwood furniture manufacturer in the world. Mr Holmes said the loss incurred could be attributed to restructuring costs and the closing of the warehousing operations in Australia. He also said other issues like US market development costs affected their financial position. He said the company's financial performance had to be viewed in harmony with two major advances. "Firstly, there is the consolidations of our strong design, manufacturing, marketing and consumer chain," he said. "This stretches from St Petersburg and all around the Pacific." "Secondly, we have established, from the ground up, a world class factory in Dongguan City. This is located perfectly as it enables us to supply consistent quality production at a realistic profit into all our markets," Mr Holmes said. He also said the fire that destroyed their factory in Sigatoka dealt a major blow to their operations. Mr Holmes said the closure was a major impediment that affected decisions that included the structure of the subsidiary company in China and the rebuilding in Fiji. Mr Holmes said while Fiji was the heart of operations, their goal was to develop operations locally to ensure it was able to compete with Asia operations. * Comments: Post a Comment	Archive October 2002 November 2002 December 2002 January 2003 February 2003 March 2003 April 2003 May 2003 June 2003 July 2003 August 2003 September 2003 October 2003 November 2003 December 2003 January 2004 February 2004 March 2004 April 2004 May 2004 June 2004 July 2004 August 2004 September 2004 October 2004 November 2004 December 2004 January 2005 February 2005 March 2005 April 2005 May 2005 June 2005 July 2005 August 2005 September 2005 October 2005 November 2005 December 2005 January 2006 February 2006 March 2006 April 2006 May 2006 June 2006 July 2006 August 2006 September 2006 October 2006 November 2006 December 2006 January 2007 February 2007 March 2007 April 2007 May 2007 June 2007 July 2007 August 2007 September 2007 October 2007 November 2007 December 2007 January 2008 February 2008 March 2008 April 2008 May 2008 June 2008 July 2008 August 2008 September 2008 October 2008 November 2008 December 2008 January 2009 February 2009 March 2009 April 2009 May 2009 June 2009 July 2009 August 2009 September 2009 October 2009 November 2009 January 2010 RSS Feed Alternative feed Contact Tevita Something new: Agrobiodiversity Weblog: For discussions of conservation and sustainable use of the genetic resources of crops, livestock and their wild relatives. 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