KUALA LUMPUR: Pelikan International Corp Bhd could be back in the black by the first quarter next year as the painful provisions it took to scale back the business are at an end, said chief executive officer Loo Hooi Keat.
The stationery-based firm, which derives some 85% of its sales from its struggling European operations, posted a net loss of RM101.3mil in the financial year ended Dec 31, 2011 from a profit of RM130.79mil in 2010.
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