Profit up 29% as Bremworth starts telling a better yarn

Bremworth's Napier yarn plant signals move from gas to electric. (Image: Bremworth)

Mon, 29 Aug 2022

Carpet manufacturer Bremworth has rolled out a net profit of $2.2 million for the 12 months to June, up 29.5% on the $1.7m for the comparable period.That was on the back of a 14.4% decline in sales, from $111.6m to $95.5m, following the company’s restructuring and shift back to natural wool fibres and away from synthetic carpet products.Earlier this month, Godfrey Hirst, New Zealand's biggest seller of flooring, dropped the damages arm of a claim against Bremworth, which it's accused of making false and unsubstantiated claims as t...

Unlock all stories free for 10 days

Stay informed on business, government and financial developments across New Zealand.

Deeply researched, twice-edited and fact-checked news
Annual subscribers also receive a complimentary subscription to The Wall Street Journal
Personalised email news alerts, plus gift up to 5 stories a month to non-subscribers

We won’t charge for 10 days. You can cancel anytime with two clicks, an email or a phone call. Find out more.

We are serious about journalism.

Name {{ registerForm.errors.get('name') }}

Email address {{ registerForm.errors.get('email') }}

Phone Number {{ registerForm.errors.get('phone') }}

Job Title {{ registerForm.errors.get('title') }}

Password Minimum password length of 8 characters.
Require at least one upper and lowercase, numeric, and special character. {{ registerForm.errors.get('password') }}

Repeat password {{ registerForm.errors.get('password_confirmation') }}

We had trouble validating your card. It's possible your card provider is preventing us from charging the card. Please contact your card provider or customer support.

Credit Card

Cardholder's name

{{ __(plans[index].interval) | capitalize }} {{ plans[index].attributes.old_price | currency }} {{ plans[index].price | currency }}

You will be charged in 10 days unless you cancel beforehand.
We will remind you three times before charging you.
All subscriptions auto renew but are easy to cancel.

I Accept The Terms Of Service

{{ registerForm.errors.get('terms') }}

Tax: {{ taxAmount(selectedPlan) | currency }}

Total Price Including Tax: {{ priceWithTax(selectedPlan) | currency }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerSeat ? '/ '+ spark.seatName : '' }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerTeam ? '/ '+ __('teams.team') : '' }} / {{ __(selectedPlan.interval) | capitalize }}

Economy

BNZ ekes out gains in market share as 1H deposits and loans lift

The cost-to-income ratio was 36.2% versus 32.5% in the same period a year earlier.

Rebecca Howard 5:00am

Markets

Watchdog gives nod to Air NZ/Virgin Australia trans-Tasman codeshare

Denise McNabb 5:00am

Technology

Don’t use AI images in marketing, says top AI exec

GenAI makes marketing easier, especially for SMBs – but not how you might think.

Ben Moore 5:00am

Don’t use AI images in marketing, says top AI exec

Sponsored

Cyber alerts in New Zealand on the rise

A shortage of security experts puts pressure on combating threats

Fortinet

Sponsored

Avoiding mistakes many investors make

Managing emotions key to securing long-term returns.

Milford

More Primary Sector

Primary Sector

Dairy Goat Co-op chair Campbell Storey to step down

He won't go until the annual meeting in September, however.

Riley Kennedy 02 May 2024

Primary Sector

John Penno quits Synlait board as George Adams elected chair

Synlait Milk co-founder John Penno has quit the company’s board, and George Adams has taken over as chair.The debt-laden milk processor told the New Zealand stock exchange (NZX) on Wednesday that Adams, who joined the board in March as an independent director, would take over fro...

Riley Kennedy 01 May 2024