Cavalier says annual earnings meet guidance; trims bank debt by a quarter

Paul McBeth
Mon, 02 Jul 2018

By Paul McBeth July 3 (BusinessDesk) - Cavalier Corp says annual earnings more than tripled and were within last month's forecast as the carpetmaker reaped the benefits of restructuring and better wool prices, and helping it trim bank debt by a quarter. Earnings before interest, tax, depreciation and amortisation were $9.6 million to $10 million in the 12 months ended June 30, up from $2.6 million a year earlier and meeting guidance provided on June 5, the Auckland-based company said in a statement. Profit before one-off costs was between...

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