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Updated at 12:04 pm on 30 May 2011
Methven's full year profit fell by almost 40% after it lost its largest UK customer.
The showerhead and tap maker made $4.7 million in the year to the end of March, 39% less than in the previous year. Sales fell 6% to $122 million.
Methven's largest UK customer, Focus DIY, went into voluntary administration during the year, costing the company $2 million.
If that loss is stripped out, underlying profit fell almost 14% to $6.7 million.
Chief executive Rick Falasays it's been a challenging year for Methven.
He says the Christchurch earthquakes also dampened domestic sales during the year.
Methven expects profit in the current financial year, to be 25% higher than this year's underlying profit.
It has declared a final dividend of 4.5 cents per share, 1c less than last year.
Shares in Methven, which was included in the NZX50 index in March, rose 1c to $1.42 on Monday.
Copyright © 2011, Radio New Zealand
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