Cavalier expects first-half loss as sales slide

Wed, 27 Nov 2019

Cavalier Corporation expects to post a first-half net loss on top of the $16.8 million net loss it reported for the year ended June. "The challenging trading conditions noted early in 2019 are continuing and sales, particularly of low-margin synthetic carpets, continue to be affected with volumes down by approximately 10 percent year-on-year," chief executive Paul Alston told the annual shareholders' meeting. The company is forecasting a bottom-line loss of $1.1-1.6 million for the six months ending December, with earnings before interest...

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