Inventory glut hitting NZ Merino’s bottom line

NZ Merino's chief executive Angus Street. (Image: Supplied)

Fri, 21 Jun 2024

High levels of stock backed up in the supply chain and a drop in clip volumes are weighing down on The NZ Merino Company.But the wool marketer is confident some pressure will ease in the upcoming financial year.Last week, the Christchurch-headquartered, Unlisted securities exchange-listed (USX) business revised its trading guidance for the year ending June 30 to earnings before interest and tax (ebit) loss of between $1.5 million and $2.1m with a net loss in the range of $3.2m and $4.3m.That compared to the guidance it issued at its h...

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