Pacemaker leads depress Pacific Dunlop's profits
This article was originally published in Clinica
Telectronics' faulty pacemaker leads have dragged profits down at its parent company, Australia-based Pacific Dunlop. An Aus$157 million ($118 million) write-off reduced Pacific Dunlop's profits to Aus$94 million in fiscal 1995, 69% less than in the previous year. Excluding the write-off, the picture is less bleak with profits down just 18% to Aus$251 million.