CWG reports trading loss
CWG has reported a trading loss of £610,495 for the year ending Dec 31 1999, compared with a loss of almost £571,000 the previous year. Turnover fell over £1.4m to £20.5m.
The continuing agricultural recession encouraged price deflation and restricted farmer spending. Fencing, equipment and sundries were particularly affected.
Equestrian business was the star performer, with sales up 19% to over £2.1m.
The results include a write-down of older stock of £108,000. Cost-cutting measures, which have already saved over £750,000 in two years, together with a push to improve market share should see a return to profit in 2000, says the board. *