14 Sep 2015

Another tough year for Windflow Technologies

1:09 pm on 14 September 2015

Wind turbine manufacturer Windflow Techologies has has reported a $3.1 million loss for the 12 months to June.

The company has struggled over recent years, with slow sales prospects overseas and a stagnant New Zealand market because of an oversupply of power.

Chief executive officer Geoff Henderson said they were working hard to turn the disappointing numbers around.

"It's tough in the renewables business in a lot of developed world and a lack of a domestic market in New Zealand has been holding us back for a number of years."

Mr Henderson said energy demand growth is expected to pick up again in 2019 or 2020, and he was aiming to have Windflow participate in the next round of wind farm development.

While the company's focus remained on the United Kingdom, it was also looking to other overseas markets such as North America and Asia. Other prospects included the Pacific and Caribbean.