Wools of NZ reaches profitability as demand surpasses supply

Wools of NZ chief executive John McWhirter. (Image: Supplied)

Thu, 13 Mar 2025

Wools of New Zealand has just reached profitability as demand for wool exceeds supply.The limited partnership recorded a net profit of $165,000 in the 12 months to August last year, compared to a loss of $1.4 million in 2023.Its turnover increased slightly to $27.6m, up from $27.3m.Wools of NZ LP, which held its annual meeting on Tuesday, was created four years ago out of the merger of co-operatives Primary Wool Co-operative and Wools of NZ Ltd, which each own 50% of the LP.Chair Richard Young said the turnaround in profitability showed th...

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