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Tubemakers of Australia Ltd, is budgeting for a better profit this year, even though it sees more job losses ahead and no sign of recovery.
Profits fell 55% to SA25.4M (£11.92M) in the June year. The group warned shareholders in June that it expected a slump of up to 60% because of pressure on sales and redundency costs. More than 800 staff, 14% of the workforce, were sacked during the year.
Managing director Tony Daniels...