CORRECT: Cavalier Corp shares fall 16% as it announces write-down

Thu, 22 Aug 2019

(Corrects to clarify forecast excludes the non-cash items in paragraph eight) By Rebecca Howard Aug. 22 (BusinessDesk) - Cavalier Corp shares fell 16 percent after it announced plans to write-down or impair the value of goodwill and various plant and equipment by as much as $9 million as it prepares to shift its strategic direction. The stock was recently at an all-time low 24 cents and has almost halved in value so far this year. The Auckland-based carpet maker said it is at an "early stage" in developing a new strategic directi...

Subscribe to BusinessDesk

Stay informed on business, government and financial developments across New Zealand.

Deeply researched, twice-edited and fact-checked news
Annual subscribers also receive a complimentary subscription to The Wall Street Journal
Personalised email news alerts, plus gift up to 5 stories a month to non-subscribers

You can cancel anytime with two clicks, an email or a phone call.
Find out more.

We are serious about journalism.

Already a Subscriber ? Sign in here.

Name {{ registerForm.errors.get('name') }}

Email address {{ registerForm.errors.get('email') }}

Phone Number {{ registerForm.errors.get('phone') }}

Job Title {{ registerForm.errors.get('title') }}

Password Minimum password length of 8 characters.
Require at least one upper and lowercase, numeric, and special character. {{ registerForm.errors.get('password') }}

Repeat password {{ registerForm.errors.get('password_confirmation') }}

We had trouble validating your card. It's possible your card provider is preventing us from charging the card. Please contact your card provider or customer support.

Credit Card

Cardholder's name

{{ __(plans[index].name) | capitalize }} {{ plans[index].attributes.old_price | currency }} {{ plans[index].price | currency }}

All subscriptions auto renew but are easy to cancel.

I Accept The Terms Of Service

{{ registerForm.errors.get('terms') }}

Tax: {{ taxAmount(selectedPlan) | currency }}

Total Price Including Tax: {{ priceWithTax(selectedPlan) | currency }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerSeat ? '/ '+ spark.seatName : '' }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerTeam ? '/ '+ __('teams.team') : '' }} / {{ __(selectedPlan.interval) | capitalize }}

On the Money

On the Money: China, Miles Hurrell's kiwifruit, and more

The adventures of Prime Minister Christopher Luxon’s travelling business troupe.

Dileepa Fonseka 28 Jun 2025

Cars

Carmakers still scrambling to get rare-earth magnets

A deal to free up Chinese shipments hasn’t sped up export approvals, companies say.

The Wall Street Journal 28 Jun 2025

Carmakers still scrambling to get rare-earth magnets

Technology

Insurers ‘under siege’ by notorious hacking group

Breaches bear hallmarks of attacks on Marks & Spencer and Las Vegas gambling giants.

The Wall Street Journal 28 Jun 2025

Insurers ‘under siege’ by notorious hacking group

Sponsored

Why corporate giving matters

Dave Letele and Z provide support where urgent need is overlooked.

Z Energy

Sponsored

New Zealand’s AI imperatives: Transparency and the human touch

Hard-hitting report warns uncertainty could block progress.

One NZ

More Retail

Retail

Consumer confidence ticks up in June

The ANZ-Roy Morgan Consumer Confidence index lifted 6 points to 98.8 in June.The future conditions index – made up of forward-looking questions – rose 8 points to 104.8, recovering last month’s fall. The current conditions index rose 3 points to 89.8.Perceptions of current person...

Staff reporters 27 Jun 2025