Cavalier turns to profit in 2018, sees continuing improvements in future years

Tue, 21 Aug 2018

By Tina Morrison Aug. 22 (BusinessDesk) - Carpet-maker Cavalier Corp turned to an annual profit and improved its debt and cash balances as it benefits from the previous year's restructuring. The Papatoetoe-based company posted a net profit of $4.1 million in the year ended June 30, from a loss of $2.1 million a year earlier. That's above the top end of its forecast range of $3.7 million to $4 million. Cavalier, whose heritage is steeped in woollen carpets, has had to restructure its business to cope with increased rivalry from cheaper...

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