Cost-cutting has enabled Methven to increase its annual profit despite sales continuing to fall.
The listed tapware and shower maker made $6.5 million in the year ending March, though sales fell 13% to $106 million.
The annual profit was up more than a third on the previous year when it had plunged 39%.
Every division was profitable thanks to cost controls and efficiencies, even in the UK where the company suffered the setback of losing it's largest customer last year.
Methven chief executive Rick Fala says trading conditions continue to be tough in all its key markets, including Australia.
Mr Fala says Methven is aiming for profit and cash flow growth this financial year but as markets are fickle and uncertain the company is not giving any earnings guidance yet.
Methven will pay a final dividend of 5.5 cents a share.
