LONDON-London International Group has disposed of virtually all its non-elastomeric activities.
Now the company is free to concentrate on the businesses it knows best-thin film barrier technology based on natural rubber latex, and, more recently, polyurethane technologies.
For the fiscal year ended March 31, the company reported sales of $505.8 million, down 19.8 percent from $630.6 million the year before. Of this, only $455.9 million is from on-going operations. London International disposed of its loss-making photo-processing unit during 1994, leading to much lower sales in that area.
London International reported an operating profit of $33.9 million, compared with a loss of $37.2 million the previous year.
Again, the difference was largely due to the photo-processing operations, the firm said.
On the health care side, the company said it is in the process of launching a thicker condom in the Avanti range in the U.S. Avanti products use a dipped polyurethane process.
The company said its Biogel surgeons' gloves had become a market leader in the U.S. in just five years from nowhere.
London International remains committed to starch-free products, according to a company spokesman.