Sale of Ontera to Milliken
27 August 2015
Following on from the announcement made on 3 August 2015, Cavalier Corporation announces that a conditional asset sale and purchase agreement has been entered into by Ontera (a wholly-owned subsidiary of Cavalier Corporation) with a Milliken subsidiary.
Cavalier Corporation expects the sale to release around $6.5 million towards its debt reduction programme.
Settlement, which is conditional upon selected key employees of Ontera accepting employment with Milliken and the transfer of key contracts and leases to Milliken, is expected to occur within one to two weeks.
Chief Executive Officer
For and on behalf of the Board of Directors
Cavalier updates strategy and business plan
3 August 2015
Cavalier advises of a number of changes that support the re-focus on core business and debt reduction included in our updated strategy and business plan signalled to the market in our 20th May announcement.
Changes to the Board of Directors
8 July 2015
Retirement of Alan James
Cavalier Corporation Limited advise that Alan James – who had previously indicated that he was contemplating retiring from the Board – will be stepping down from his role as a Director and Chair of the Board effective 10 July 2015.
Earnings Advisory / CEO steps down
20 May 2015
The Board of Cavalier Corporation advises that normalised earnings for the 14/15 year are likely to be at, or slightly below, the lower end of the previously advised earnings guidance range of $1 to $4 million tax-paid.
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 joins forces with Mohawk
18 May 2014
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.