Home / Knowledge / News / Textiles / Wool exporting firm to surpass past profit records
Wool exporting firm to surpass past profit records
Dec '10
Christchurch-based New Zealand Wool Service International (WSI), which is the country's leading wool exporting firm, is trying its level best to outshine its last year's profit after tax of $2.2 million, even before the completion of the first half of the 2010-11 season. The company, during its annual general meeting held recently, presented a picture of its future prospects with regard to its strong wool trade.

Michael Dwyer, Managing Director of the firm, said that the company's optimistic attitude is attributed to the enhancement of its two wool scourers, low stockpiling and improved trading in the market and also the efforts that it had employed for marketing its products. Dwyer said that the company has benefited from the scarce wool supply which almost pushed the commodity prices to double. There has been a considerable rise in the demand for strong wool from carpet and textile producing firms.

He, further, said that their consumers are expecting that the firm should source them with increasing quantity of wool. There has been a rise in the prices of strong wool from $2.64 per kg, 18 months back, to $4.74 per kg now and the positive trend in the prices is likely to continue.

Further, the growing confidence in foreign markets has sustained throughout the season this year, and the European as well as Australian markets, too, are recovering. Asia, being a bastion, has managed to sustain its wool consumption at pre-recession levels.

The firm revealed that, being the country's biggest exporter of wool, it has raised its contribution to country's total wool exports to 45 percent. Also that, the new management at the North Island-based Whakatu scouring plant, too, has played a crucial role in generating profits and is close to match the output of the Christchurch-based Kaputone plant.

Fibre2fashion News Desk - India

Must ReadView All

Apparel/Garments | On 29th May 2017

Christopher & Banks Corporation Q1 2017 sales down 11.5%

The net sales of Christopher & Banks Corporation for the first...

Apparel/Garments | On 28th May 2017

Over 45% US retailers to use AI in next 3 years: Report

Over 45 per cent retailers in the US plan to utilise artificial...

Neelesh Hundekari speaking at the event. Courtesy: Subir Ghosh

Textiles | On 27th May 2017

Fabric of Change initiative announces €250000 scaling fund

The Fabric of Change initiative of Ashoka and the C&A Foundation is...

Interviews View All

Anshul Sood

‘Indian footwear market is nascent and largely a trend follower’

Saket Garg
Garg Corporation

The biggest challenge is lack of skilled workforce and competition from...

Nishank Patel
Shri Dinesh Mills Limited

Broad range of fabrics will sell well this financial year

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Kevin Nelson

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Igor Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Robert Brunner

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies


news category

Related Categories:
May 2017

May 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.


Browse Our Archives


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search