As per the statement made by the bathroom and kitchen company Methven, there is still not much hope on the sales recovery as there is a growing disconnect between building consents and demand for its products in the New Zealand market.

It is to be mentioned here that the Auckland-based company filed a 8% rise in the net profits which didn't took into account the restructuring costs for the six months to September 30 of $4.5 million.

It may be noted here that the improved profits of the company reached to such a level despite a 7.7 per cent fall in revenue to $62.8m, including lower demand in New Zealand.

The Chief executive of the company, Rick Fala is of a view that the demand for products of the company as historically tracked is several months behind the combined building and refurbishment consent approvals.

Moreover, the CEO also mentioned the fact that the rolling average for consent approvals for the past 12 months was about 15 per cent higher than the previous year pointing out to the fact that the company is not looking at any great signs of sales recovery in times to come.