• PAGE ONE
• INDEX
• HOME

Gordon Woodroffe makes Rs 1.03-crore profit

Our Bureau

CHENNAI, June 23

WITH a more intense focus on freight forwarding and a restructuring of its leather tanning operations, Gordon Woodroffe has registered a net profit of Rs. 1.03 crores during 1999-2000.

The company, with an accumulated loss of Rs. 7.96 crores, is making a significant profit after many years. During 1998-99, the company had made a marginal profit of Rs. 15 lakhs.

The turnover, however, was marginally lower at Rs. 30.49 crores during 1999-2000 (Rs. Rs. 30.53 crores).

The interest expenditure for the year dropped 59 per cent to Rs. 24 lakhs (Rs. 58 lakhs).

According to a company spokesperson, the turnaround has come about due to three reasons. First, a decision was taken by the Shaw Wallace group, to which the company belongs, to concentrate on the company.

The company had also managed to get a few big accounts for its freight forwarding operations during 1999-2000. ``We hope to improve on these accounts and also get more of such big accounts,'' she said.

In the company's tannery, which was not doing well in the past, a restructuring operation was carried out with focus on human resources development. This, according to the spokesperson, had resulted in better motivation and improved efficiency.