Bagir Group Ltd increase revenues by 10% to $56.4m in 2018, but it still lost money.
The suit maker increased its loss from $2.9m to $5.78m. The cash outflow from operating activities was $6.67m. Net debt is just under $9m.
Trading conditions remain tough, but costs have been reduced. Bagir has already generated sales of $16.3m in the first quarter of 2019, up from $11.2m in the same period last year. The order book is worth $30.6m.
Bagir is still waiting for Shangdong Ruyi to complete its investment, which will help to develop manufacturing in Ethiopia.
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