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Shirts Among Multiple Coltejer Textile Products Shirts Among Multiple Coltejer Textile Products Source: Coltejer

Coltejer Posts US$7.2 Million Net Loss for Full-Year 2019

Published in Companies Written by  January 30 2020 font size decrease font size increase font size 0
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Medellin-based textile giant Coltejer on January 29 revealed in a filing with Colombia’s corporate oversight agency Superfinanciera that it suffered a full-year 2019 net loss of COP$24.9 billion (US$7.2 million), a small improvement over the COP$28.9 billion (US$8.5 million) net loss in 2018.

Sales also dipped slightly, to COP$141.9 billion (US$41.7 million ) in 2019 versus COP$144 billion (US$42 million) in 2018, while total corporate-wide income dipped to COP$172 billion (US$50 million) versus COP$176 billion (US$51.7 million) in 2018.

However, operating income improved to COP$13 billion (US$3.8 million) compared to COP$6.8 billion (US$2 million ) in 2018.

Coltejer and other major textile producers in Colombia have been suffering losses mainly because of contraband textile and clothing imports, which Colombian police recently estimated at US$3 billion last year.

In a related note, Coltejer stated that its annual shareholders meeting will be held February 20, 2020, at company headquarters.

Read 189 times Last modified on Last modified on January 30 2020

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