Bremworth reports $12.2m loss amid challenging year

Bremworth has reported a challenging financial year, with a normalised ebitda loss of $12.2 million for the year ended June 30, 2025.

The premium carpet manufacturer, which released its unaudited results, attributed the difficulties to tough trading conditions in its core markets and the impact of lower-than-budgeted volumes on the recovery of production overheads.

The company also faced challenges in its yarn hybrid supply chain, which were a consequence of Cyclone Gabrielle.

Bremworth's revenue increased to $88.9m, up from $80.3m in the previous year, while its net profit after tax reached $18.2m, compared to $4.6m.

The company's gross margin deteriorated to 13.9%, down from 24.3%.

Bremworth's chief executive, Craig Woolford, said the company is taking steps to reset the business, including a $6m investment to expand production at its Napier plant and strengthening its sales capability.