Cavalier forecasts jump in full-year profit, on benefits of restructuring, favourable wool prices

Mon, 04 Jun 2018

By Jonathan Underhill June 5 (BusinessDesk) - Cavalier Corp forecast a jump in full-year profit, driven by improved margins following the carpetmaker's restructuring and the benefits of more favourable wool prices. Net profit in the year ending June 30 is expected to be in a range of $3.7 million to $4 million compared to a net loss of $1.8 million a year earlier. Earnings before interest, tax, depreciation and amortisation would be $9.6 million to $10 million, up from $2.6 million in the 2017 year. The stock jumped 11 percent to 61 cents...

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