Latest News
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
in 2011.
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.