Dawson suffers bigger loss

LOSSES AT Dawson International deepened to pounds 23.6m in the six months to 4 July from a pounds 4.2m loss the year earlier, the textile company revealed yesterday. The maker of Pringle clothing blamed the loss on Asia's economic crisis and the strong pound. Chairman Derek Finlay said problems had been caused by the strength of sterling, the full impact of the Asian economic crisis and fashion trends away from heavy woollen yarns and knitwear.

Dawson reduced its workforce by 24 per cent, which represents an pounds 8m reduction in operating costs for the full financial year. The shares closed off 0.5p at 76.5p, down from a 12-month peak of 76.5p.