Bremworth reports $1.68m loss, cites plant damage

Bremworth has reported a net loss of $1.68 million for the six months to Dec 31 2023, a 116% increase compared to the same period the previous year.

The company cited severe capacity constraints caused by the damage to its Napier plant as the main factor impacting revenue growth.

However, Bremworth expressed optimism for the future, expecting a corresponding lift in revenue for the 2025 financial year with the pending return of full production volumes and the release of new ranges.

The company also said it has been working to establish a hybrid supply chain to minimise ongoing yarn supply constraints.

Bremworth anticipates a return to full production volumes for the carpet business in the fourth quarter of the current financial year.