New Zealand carpet maker Bremworth's FY26 prelim revenue jumps on wool demand

Bremworth

31/08/2026 05:45

Overview
New Zealand premium carpet maker's preliminary FY26 revenue rose 21% yr/yr, driven by Elco Direct
Preliminary net loss after tax was NZ$11.4 mln, with normalised EBIT loss narrowing yr/yr
Results reflect challenging market conditions and one-off items; outlook cautious for FY27

Outlook
Company says timing and pace of broader market recovery remain uncertain
Immediate objective is to return to profitability and positive operating cash flow

Result Drivers
WOOL DEMAND - Co said revenue growth was mainly driven by Elco Direct, with increased wool demand and higher prices in 2H26
COST REDUCTION - Co implemented significant cost out programme, reinvesting savings to drive revenue and improve inventory quality
OPERATIONAL IMPROVEMENTS - Napier yarn plant now fully operational, helping reduce product and supply chain costs and improve product quality

Company press release: ID:nNZSwv5Da

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
FY Revenue
 
NZ$106.6 mln
 

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)