Melbourne-based Spotless Ltd.'s plastics division, Retailer Services, has turned to developing markets in Asia and Eastern Europe to offset high resin prices and manufacturing costs in the United States.
Retailer Services makes and distributes polypropylene garment hangers and apparel packaging products globally. The division includes London-based Braitrim Holdings Ltd. and New York-based Spotless Plasti-form.
The division reported sales of A$199.1 million (US$118.4 million) for the six months ended Dec. 31, an increase of 1.5 percent from the same period a year earlier. Profit was down 21.6 percent, to A$12.9 million (US$7.7 million).
Chairman Brian Blythe said Spotless Plasti-form has been hurt by unfavorable resin prices. But he added that results were stronger than expected, thanks to new sales offices in Asia.