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.
29 September 2015
Please find below the link to download the 2014/15 Annual Report.
Please click here to read about the preliminary results for the year ended 30 June 2015.
20 February 2015
The Directors of Cavalier Corporation have announced that for the 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.
The gains made from restructuring the manufacturing operations by closing spinning and consolidating tufting plants over the recent past have been dwarfed by the impact of the high New Zealand dollar, increased wool prices and very low wool grease prices.
While these adverse macro events are beyond the Company’s control, the Board and executive are focused on what it can impact and control. This includes simplifying our operations and reducing costs, growing our rest of world (ROW) markets through global partnerships particularly in the US where we are partnering with Mohawk, the world’s largest flooring company, migrating Ontera to a blended tile-distribution model, leveraging the innovative felted yarn technology and merging wool scouring in New Zealand.
Operating revenue at $103.7 million is up 1.8% on the $101.9 million reported last year, with most of this increase coming from the carpet business, where operating revenue increased by $1.8million to $88.8 million.