New direction for Kresta


Screen Shot 2014-08-28 at 4.33.18 pmFresh from a Chinese takeover, Australia’s biggest blind and curtain maker, Kresta, says a restructure of its business will deliver an improved performance.

Kresta fell into foreign hands in July, acquired by Chinese company Suntarget, whose major shareholder, Lu Xianfeng, has been MD of the blinds maker since March.

Under Lu’s leadership, the company’s focus has shifted to improving its procurement and manufacturing processes, which it said will come at a short term cost but improve the company’s competitiveness.

Before his appointment, Kresta closed 14 stores across Australia and New Zealand to improve efficiency and lower costs.

Kresta made a $1.4 million loss in the 2013/14 year, down from a $1.5 million profit in the prior year.

Chairman Rick Taylor, said the result was disappointing, but reflected the changes Kresta is undertaking.

“The company will continue its recent initiatives to invest in the business in the 2015 year and we look forward to a positive impact on the business for the years to come,” he said.


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