Bremworth, the premium carpet manufacturer, has reported a normalised ebitda loss of $13.2 million for the year ended June 30, 2025.
This compares to a loss of $4.7m in the previous year.
The company's revenue increased to $88.9m, up from $80.3m in FY24.
However, the company's gross margin deteriorated to 13.4%, down from 24.3%.
The decline in gross margin was attributed to difficult market conditions, selling price pressures, and supply chain challenges.
Bremworth's net profit after tax was $18.2m, compared to $4.6m in the prior year.
The company said it is taking steps to reset the business, including a $6m investment to expand production at its Napier plant and strengthening its sales capability.
Bremworth also disclosed the reclassification of $500,000 of expenses, which resulted in a correction of its gross margin and ebitda loss figures.
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