Shower and tapware designer Methven says it's in good shape to deliver another year of increased earnings despite difficult trading conditions in all its key markets.
Methven updated shareholders on its performance at its annual meeting in Auckland on Tuesday.
Net profit rose almost 28% to $9.8 million in the year to the end of March.
The company says its Australian business was a key contributor to the result, and it expects to continue driving up sales across the Tasman.
Methven says the acquisition of Deva in September last year is expected to assist it distributing new shower ranges throughout Britain.
Managing director Rick Fala says the company expects more home-owners to upgrade their showers through renovation as fewer build new homes in the softening New Zealand market.
