Bremworth burns through $20m cash as focus shifts to profitability
NZX-listed carpet maker Bremworth has burnt through $20 million in cash while revenue lifted 21% to $106.6 million.
Bremworth has depleted $20 million in cash reserves while reporting a 21% increase in revenue to $106.6 million, driven by higher volumes and prices in its wool sourcing business. The company says its focus is now turning to profitability and cash generation. It is currently the subject of a partial takeover offer from its largest shareholder David Ferrier's Mangawhai Collective.
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Bremworth burns through $20m cash, focus turns to profitability
Bremworth has burnt through $20 million in cash as it says its focus is turning to profitability and cash generation. The NZX-listed carpet maker – currently under a partial takeover offer from its largest shareholder David Ferrier’s Mangawhai Collective –…