Cavalier moves ahead with woolly strategy

Thu, 23 Jul 2020

Cavalier Corp said a positive trading period in June and cost controls helped it reduce bank debt to historical lows of $14.5 million and that it was shifting to an all-natural fibres strategy. In a market update, the wool and carpet company said stock levels had decreased "significantly" to about $35 million, on the back of trading through June that was "stronger than anticipated," particularly in wool sales. That bounce followed a year-on-year reduction in volumes through the prior three months as a result of covid-19 trading impacts....

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