FY17 earnings guidance update.
The Board of Directors of Cavalier Corporation advises that normalised earnings after tax for the 16/17 year is now forecast to be a loss of around $2 million, compared with the breakeven normalised profit after tax announced in February.
Cavalier Corporation - Half-Year Report for the six months ended 31 December 2016
Please find below the link to view and download the 2016 Annual Report.
Below is the link to the Half Year Report to December 2015
19 February 2016
The Directors of Cavalier Corporation Limited announce a profit after tax of $3.5 million for the six months ended 31 December 2015, compared with $32,000 in the same period last year. Revenue dropped $5.3 million/5% as a result of the sale of the tile business, offset by increases in revenue in broadloom, wool and yarn.
On a normalised basis (which excludes the one-off gain from the sale of the Sydney premises and restructuring costs), profit after tax is $2.4 million compared with $0.3m in the same period last year.
Both the carpet and wool businesses were ahead of last year, with the improved performance by carpet due largely to the sale of the loss-making tile division in August 2015.
The Directors note that underlying conditions - particularly, the continuing high wool price and NZD:AUD exchange rate - remain challenging.
Please find below the link to download the half year report ended 31 December 2015.