Cavalier says 2017 earnings may fall as much as 52% on one-time costs

Jonathan Underhill
Wed, 02 Nov 2016

By Jonathan Underhill Nov. 2 (BusinessDesk) - Cavalier Corp said 2017 earnings may fall as much as 52 percent as the carpet maker incurs one-time costs to consolidate its manufacturing operations. Normalised profit is expected to be $3 million to $5 million in the year ending June 30, 2017, from $6.3 million a year earlier, the Auckland-based company said in a statement. In April, Cavalier said it would consolidate its woollen yarn spinning operations in Napier and Whanganui to a single hub in Napier, and scale back its semi-worsted ya...

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