Costs of more than NZ$12 million on asset write-downs and restructuring have left fabric manufacturer Designer Textiles Ltd with a full year net loss of NZ$11.6 million. The New Zealand based company reported a net loss of NZ$121,000 in its previous financial year.

In a statement, the company acknowledged that significant redundancy costs were incurred as part of the company's restructuring, but expects the leaner business structure to boost profits in future years.

Designer Textiles is now refocusing its business on becoming a textiles and fabrics sales and marketing company rather than a manufacturer that sells fabrics.