Cavalier shares tumble to more than 20 year low, as wool trade woes continue

Tue, 11 Nov 2014

By Suze Metherell Nov. 11 (BusinessDesk) - Shares of Cavalier Corp fell to the lowest in more than two decades as the carpet maker fails to lift earnings in a competitive market against cheaper overseas imports as high wool prices crimp margins. Late last month the Auckland-based company flagged normalised annual profit in the 2015 financial year will probably fall short of its forecast for a "modest increase" to the $5.8 million result it posted in 2014, citing a strong kiwi dollar against its Australian counterpart and high wool prices....

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