Australian Wool Innovation (AWI) reported on a year of gains across wool research, development and marketing on Friday. Chairman Wal Merriman told AWI's AGM how the 2010-11 financial year, while unsettled in global economic terms, had generally been positive for the company, as it had been for the woolgrower shareholders it serves.

Ongoing global marketing campaigns the HRH Campaign for Wool, No Finer Feeling and Woolmark Gold all began in the 2010-11 financial year and all are said to have demonstrated gains in demand for wool across key wool consuming markets.

"It has been a very busy year at AWI and the first to be covered by the current three-year Strategic Plan woolgrowers endorsed at WoolPoll in 2009. As we continue to work to achieve the best outcome for woolgrowers it is pleasing to see the national flock slowly beginning to rebuild, seasons permitting."

For the 2010-11 financial year, the AWI project spend increased by $7million to $24.3 million as stated in the 2010/11 Operating Plan. With an income of $72.6 million the operating surplus increased to $24.3 million. CEO Stuart McCullough explained how the human and financial resources of AWI were reallocated to increase demand for the natural fibre and improve the profitability of growing wool as per the Strategic Plan of the company.

"I am proud to say we have met and in many cases exceeded the tasks set for the company and in most instances this has been delivered under budget and on time."