Cavalier chair Alan James defends management, board to shareholders

Mon, 24 Nov 2014

By Suze Metherell Nov. 25 (BusinessDesk) - Cavalier Corp chairman Alan James has defended his two-decade tenure as head of the carpet maker's board as shareholders questioned it poor financial performance, suspension of dividends and the 62 percent drop in its share price since the start of the year. The Auckland-based company has been forced to cut its full-year guidance three times, and today affirmed last week's announcement that it expects its 2015 full-year earnings to be between $1 million and $4 million. Last month it flagged norma...

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