Turnover down but profit up at twine manufacturer

TWINE and cord manufacturer Braveshire saw its revenue dip 2% to £57.5m as fashion trends and competition pose a challenge to its business.

Despite this, the Wakefield-based business saw operating profit rise 18% to £4.5m for the year to June 2015.

The company, which manufactures industrial fillings, carpets and felt tubing, said it is “cautiously optimistic” despite the fall in turnover. It said lower revenues in its Applied Felts business were primarily the reason for the results.

Braveshire said high competition in the bedding and pipelining industries remains a principle risk for the company.

It also highlighted the impact decorating trends were having on the business, as the “fashionable move towards hard wood flooring” reduced its market share in non-woven floor coverings.