Richina Pacific has downgraded its annual profit forecast by A$2.5 million ($1.9 million) to A$4 million ($3.1 million) due to the underperformance of its Shanghai Richina Leather (SRL) operation.

According to SRL’s CEO, Mr Dennis Thams, the biggest challenge facing the subsidiary this year was within the ovine garment business, where the bulk of the profit shortfall lies. 

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