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brintonsCarpet giant Brintons said it has invested heavily in high definition technology though restructuring costs of nearly £4m hit profits.


The Kidderminster headquartered floorcoverings group posted underlying EBITDA of £4.1m, down more than half on the £8.9m registered a year ago.  


After one-off costs of £3.7m — including £2m in redundancy payments — and non-cash depreciation and amortisation charges, Brintons lost £2.5m at the operating line.


It was helped by a £918k gain on a property disposal and a £1.5m insurance claim on damaged machinery, though adding interest and similar costs meant its consolidated deficit at the pre-tax line widened to £6.4m (2013: £4.2m). The interest on shareholder loans accrues on a non-cash basis with no payments due before 2019.


Brintons sales in the year to 27th September were 16 per cent — over £13m — lower than the same period a year ago at £68.8m. The company highlighted a recent tie-up with department store group House of Fraser, with POS in 38 of its stores likely to drive sales in 2014–15.


The company — owned by global investment group Carlyle — said it had invested heavily in HD weave technology during the year, bringing another ten HD weave looms on stream. This had significantly increased its high end production capacity, Brintons added.


* figures from consolidated accounts of Lytham Holdco Ltd