LOW & Bonar's yarns division has fallen to an operating loss of £1.8 million and caused the company to take an £11.2m impairment charge.
Yarns – the smallest part of the group and employing 120 people in Dundee – had posted a £300,000 profit in the previous year, but the maker of artificial grass and carpet backing material saw revenue dip from £30.6m to £26.5m in the 12 months to the end of November 2012.
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