Headlines:
| $10mil loss in 9-months at Berger Paints |
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| Monday, 17 November 2008 | |
 Another listed
company is reporting disappointing financial results.The tough economic climate combined with the rise in oil prices earlier this year and increases in the cost of raw materials resulted in Berger Paints posting a near $10 million loss for the first nine months of its financial year. Berger is also blaming the effects of Tropical Storm Gustav and the continued tight liquidity in the economy for dampened consumer demand. The company suffered a third quarter loss of $4.8 million with a year to date loss of $9.5 million. Berger is anticipating that the traditional increase in business in the lead up to Christmas will result in a profit for the fourth quarter. |