WSI optimistic after earnings turnaround

Wool Services International's profit more than trebled in the six months to December 31.

The country's biggest carpet wool exporter posted an operating surplus after tax of $570,000, compared with $127,000 in the same period a year earlier and despite a 3.5 per cent drop in operating revenue to $57.96 million.

WSI chairman Pat Morrison said the company was culling stock levels in the depressed market, with assets falling 24 per cent to $48.47 million from $63.64 million a year earlier.