Transpacific Industries Group Limited
(ASX:TPI) has vowed to keep putting a knife to costs after slumping to a full year loss.
Australia's largest waste management company swung to a loss of $218.7 million in fiscal 2013 from a profit of $12.5 million the year before.
The loss was dragged down by a $276.8 million impairment charge weighed down by write-downs on businesses its plans to sell or close.
CEO Kevin Campbell has described the results as disappointing but pledged to continue transforming and reshaping the group amid expectations for similar market conditions this financial year.
Part of this focus includes sustainable cost reductions and the proposed sale or closure of non-core or under-performing branches.
Transpacific Industries Group will not pay a final dividend.
