The Merino Company turns to an annual loss after closing NZ textile mill, restructuring

Fri, 15 Dec 2017

By Tina Morrison Dec. 15 (BusinessDesk) - The Merino Company turned to a loss last financial year after undergoing a major restructuring that saw it exit textile manufacturing in New Zealand to focus on growing its innovative wool spinning and colour technology businesses. The company, which counts Australian William Lempriere as a director, posted a loss of $6.6 million in the year ended June 30, from a profit of $1.6 million a year earlier, according to its 2017 annual financial report filed with the Companies Office. It had an underlyi...

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