Commerce Commission approves merger of scouring assets
27 March 2014
The Commerce Commission yesterday issued its draft determination, approving the merger of the scouring assets of 50%-owned Cavalier Wool Holdings Ltd (CWH) and New Zealand Wool Services International Ltd (NZWSI). The Commission will allow a period for formal submissions from interested parties after which it will issue a final determination.
Half Year Result to Dec 14 announced
20 February 2015
The Directors of Cavalier Corporation have announced that for the first six months ended 31 December 2014, the unaudited group profit after tax is $32,000, representing a $3.4 million reduction on the same period last year. The earnings decrease reflects the tough trading conditions encountered by most business units within the Group.
June 2015 Year-End Earnings Guidance
21 November 2014
At Cavalier Corporation's pre-Annual Meeting Board meeting today, Directors concluded that their current estimate of normalised tax-paid earnings for the 2015 year was in the range of $1 million to $4 Million.
Year end earnings guidance issued
24 October 2014
Cavalier Corporation advises that after three months of trading, while volumes have been consistent with previous year, margins are under pressure, and the Company is unlikely to achieve – on a normalised basis - the $5.8m profit after tax achieved in the 2014 financial year.
Cavalier wool scour business to merge
22 October 2014
Cavalier Corporation's share in the Cavalier Wool Scour business will reduce with the merging of its operations with New Zealand Wool Servcies International Ltd.
Cavalier announces $5.8m profit
22 August 2014
The Directors of Cavalier Corporation have announced an audited after tax profit for the year to 30 June 2014 of $5.8 million, compared with a $3.0 million after tax profit in 2013.
Cavalier Bremworth voted most trusted carpet brand
23 July 2014
Cavalier Bremworth has been voted the ‘most trusted carpet brand’ in the annual Reader’s Digest consumer survey. It's the first time carpet has been included as a category.
Cavalier Bremworth joins forces with Mohawk
Cavalier Corporation subsidiary Cavalier Bremworth has joined forces with the world's largest flooring manufacturer, Mohawk Flooring, to bring Mohawk’s leading premium soft nylon as well as its superior PET products made with the Continuum Process™ to Carpet Court Australia.
Half Year result to Dec 2013
28 February 2014
Cavalier Corporation has produced an unaudited profit after tax (PAT) of $3.4 million on revenue of $102 million in the six month period to 31 December 2013. This compares with a PAT of $1.4 million on revenue of $101 million the previous year, an increase of 140% and 1% respectively on the preceding comparable period.
Changes to Board of Directors
13 December 2013
Retiring Director Keith Thorpe has been replaced by Graeme Edmond on the Cavalier Corporation Board of Directors.
Appointment of CEO, Ontera Modular Carpets
14 November 2013
Cavalier Corporation advises that Dean Harriott has been appointed to the role of Chief Executive Officer of its 97%-owned carpet tile operation, Ontera Modular Carpets (Ontera), effective 25 November.
Ontera CEO steps down
27 September 2013
Cavalier Corporation advises that David Rowlinson is stepping down from his role as Chief Executive Officer of its 96.75%-owned carpet tile operation, Ontera Modular Carpets (Ontera), effective today.
Norman Ellison Carpets CEO announces retirement
21 August 2013
Cavalier Corporation advises that Warwick Norman, Chief Executive Officer of its wholly-owned broadloom carpet operation Norman Ellison Carpets (NEC), has announced that he will be retiring from his executive role with effect from Friday, 20 September.
The decision by Warwick to retire will bring an end to his 40 years of involvement in the Australasian broadloom carpet industry.
Annual result to 30 June 2013
Announcement date: 16 August 2013
The Directors of Cavalier Corporation have announced an audited after tax profit for the year to 30 June 2013 of $3.0 million, compared with the $1.6 million after tax loss reported in 2012. The Directors declared a fully imputed final dividend of four cents per share to be paid on Friday 18 October.
Earnings guidance update / tufting consolidation
18 June 2013
Cavalier Corporation signalled at its November annual meeting of shareholders that it was expecting its normalised earnings for the current financial year to be in the range of $6 to $10 million profit after tax. While business conditions in New Zealand have improved, and continue to improve in line with expectations, the operating environment in Australia remains very subdued and Cavalier Corporation advises that normalised earnings are now expected to be at the lower end of the range indicated in November.
Founding shareholder, Tony Timpson, passes away
17 June 2013
Cavalier Corporation advises, with much regret and sorrow, the passing of founding shareholder, Tony Timpson, on the weekend.
Half year result to Dec 12
15 February 2013
The Director's of Cavalier Corporation have reported an unaudited profit after tax
of $1.4 million for the period – a decrease of 59% on the $3.5 million reported
Corporation website rates as one of the best
22 November 2012
Cavalier Corporation's website has gone from second worst to second best in the sixth annual Best Investor Website Awards (BIWA) organised by Wired Internet Group.
Earnings advisory update
16 November 2012
Cavalier Corporation has previously indicated a turnaround in earnings to $10 to $12 million profit after tax for the 2012/13 year. This was based on the benefits generated from the implementation of the group’s business improvement plans, gains from lower wool prices and a modest improvement in market conditions.
Given the slow start for quarter one and little or no improvement in Australian market activity, the group’s previous earnings indication of $10 to $12 million has been revised downwards
New CFO appointed
24 October 2012
Cavalier Corporation advises that Paul Alston has been appointed as Chief Financial Officer replacing Victor Tan who is retiring after 28 years with the Company.
CFO/Company Secretary to retire
28 August 2012
Cavalier Corporation advises that long-serving Chief Financial Officer and Company Secretary Victor Tan has informed the Board that he will be retiring from full time employment and will therefore be relinquishing his roles as CFO and Company Secretary of the Company.
Annual result to 30 June 2012
22 August 2012
The Directors of Cavalier Corporation report an audited tax paid loss for the year to 30 June 2012 of $1.6 million, compared with $18.2 million profit the previous year.
World first for Cavalier Bremworth with new recycled backing
16 August 2012
Using a pioneering process, New Zealand wool carpet maker Cavalier Bremworth is launching a new carpet backing made from recycled wool carpet in its entirety. Developed over two years in conjunction with Auckland-based Textile Products, Flashbac will be introduced onto Cavalier Bremworth carpet ranges made from today.
New director appointed for Cavalier
14 August 2012
The Directors are pleased to announce the appointment of Sarah Haydon to the Board of Cavalier Corporation.
Cavalier Bremworth introduces new TV campaign
31 July 2012
Cavalier Bremworth is back on television screens with a new campaign to help consumers understand the true benefits of wool carpet.
NEC Spinning Plant to close
27 June 2012
Cavalier Corporation has advised staff at the yarn spinning plant of its subsidiary company Norman Ellison Carpets (NEC) that the plant is closing down on 26 July. Staff affected by the closure were given the news at site meetings this morning.
Earnings Guidance - April 2012
20 April 2012
Market conditions for our carpet businesses remain very soft on both sides of the Tasman, with both volumes and margins under pressure. Broadloom carpet margins are particularly weak, as we are having to absorb the high wool prices of recent times. Our wool scouring and wool buying businesses are performing satisfactorily and returning profits at or close to budgeted levels.
Half year result to Dec 2011
17 February 2012
The Directors of Cavalier Corporation report an unaudited profit after tax for the six months to 31 December 2011 of $3.5 million, a decrease of 58% on the $8.5 million the previous year. This result includes $0.7 million of restructuring costs, net of tax, but otherwise reflects the very difficult and challenging conditions that the Group has been encountering in both the New Zealand and Australian markets in which it participates.
New CEO for Corporation
16 January 2012
Cavalier Corporation advises that Chief Executive Officer and Managing Director, Mr Wayne Chung, will be retiring from his executive role and that the Board of Directors has appointed Chief Operating Officer, Mr Colin McKenzie, as Chief Executive Officer Designate.