Bond Corp.’s Loss a Record in Australia
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From Reuters
SYDNEY, Australia — Bond Corp., the flagship company of Australian tycoon Alan Bond, on Friday announced the largest loss in Australian history.
The media, brewing and natural resources concern said it chalked up a net loss of $610 million in the year ending June 30, after making a profit of $266 million in 1988-89.
Directors of the heavily indebted company blamed the results on sales of assets forced by Bond Corp.’s rapid growth and insisted that the corporation remains a viable concern.
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