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Dawson International shrinks losses

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    Date: Wednesday 03 Sep 2008

    LONDON (ShareCast) - Scottish cashmere group Dawson International said half year pre-tax losses narrowed but remained cautious in its outlook for the full year amid an uncertain consumer environment.

    The group, which sold its Dorma trademark in July, said pre-tax losses narrowed to £1.6m for the six months to the end of June from £2.1m the same time a year before. Revenue during the period rose to £41.7m from £40.1m.

    The sale of Dorma will result in costs expected to be around £3.3m. "The disposal will benefit funding and improve profitability in the longer term," said Dawson.

    "The economic climate is challenging in all of our markets and we remain cautious in our assessment of the impact of consumer spending levels in our outlook for the full year and into 2009," said chairman Michael Hartley in its company statement Wednesday.

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