Dawson unveils 17% rise in pre-tax profits as all divisions return to the black

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The Independent Online
DAWSON INTERNATIONAL's new group chief executive, Peter Forrest (left), and chairman Derek Finlay, yesterday dressed up the announcement of a 17 per cent rise in pre-tax profits with IT girl Tara-Palmer Tomkinson modelling part of its Ballantyne Cashmere's autumn/winter 1998 collection.

The Scottish-based international textiles groupannounced profit before tax and exceptional items of pounds 13.8m in 1997 and said its turbulent past was behind it as its turnaround strategy began to pay off. 'Our roller- coaster history we can put behind us.... For the first time since 1991-92 all our businesses are making money. That is quite a milestone,' Mr Finlay said.

He said Dawson could aim for annual operating profit growth in the 10 per cent range. Its Knitwear & Clothing division, including Pringle of Scotland - standard golfers' garb - was profitable for the first time in three years.

Mr Finlay said progress had been made despite what he described as an 'overvalued' pound.

Photograph: PA