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26 Apr 2024

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Cavalier accused by rival of 'demonising' synthetic carpets
Cavalier has likened a household of synthetic carpet to the equivalent of 22,000 single use plastic bags, which Godfrey Hirst alleges is false and misleading.

Cavalier Corporation Limited (NZX: CAV) Preliminary FY21 Half Year Result
CAV has reported a strong year on year uplift in profitability as it benefits from higher woollen carpet sales, the sell down of its synthetic carpet stock as it exits the non-wool sector and the gain from the Auckland property sale and leaseback

Cavalier Corporation Limited (NZX: CAV) Settlement of Auckland Property Sale
Cavalier Corporation Limited advises that the sale of its Auckland property to Manukau Industrial Holdings Limited for $25.5 million has settled. Cavalier will lease back the property for a 14-year term, with a further right of renewal for six years

Cavalier Bremworth terminates Auckland carpet factory sale contract
Kinleith Land and Infrastructure failed to pay the deposit on the $24.6m deal, but a new mystery buyer has been found.

Cavalier finds another buyer for its Auckland property
Cavalier Corp said it had found another buyer for its Auckland property after the sale to Kinleith Land and Infrastructure Ltd fell through last week.The company said its wholly-owned subsidiary, Cavalier Bremworth, had terminated...

Can Cavalier save New Zealand's wool farmers by ditching synthetic carpets?
Cavalier’s decision to go all-in in wool won't save the industry by itself, but it’s seen as an encouraging sign.

Carpet-maker Cavalier Corporation's Auckland factory sale for $24m approved by shareholders
Carpet- maker Cavalier Bremworth will use the $24m from the sale to switch to making only wool carpets.

Cavalier Unveils All-Wool and Natural Fibres Strategy
Trading in June 2020 was stronger than anticipated, particularly in wool sales, following a year on year reduction in sales volumes in March, April and May due to the impact of COVID-19. Bank debt and inventory levels are at historical lows

Carpet maker Cavalier Bremworth's three NZ factories are on the market for sale and leaseback
Cavalier Bremworth is offering to sell its factories and lease them back to free up cash.

Cavalier names former Icebreaker boss as new CEO
Cavalier Corporation has appointed the former head of Icebreaker as its new chief executive, starting next month.Greg Smith replaces Paul Alston who resigned in April. Alston is staying on for three months with the leadership team...

Cavalier Corporation Limited (NZX: CAV) Establishment of Long-Term Incentive Plan
The Scheme is designed to promote employee retention, further align shareholder and management interests and reward performance that underpins the achievement of Cavalier’s business strategy and long-term shareholder wealth creation

Cavalier Corporation Limited (NZX: CAV) Further Update on Sale and Leaseback of Auckland Property
Cavalier Corporation Limited advises that its wholly-owned subsidiary, has terminated its contract with Kinleith Land and Infrastructure Limited, and has also entered into a new sale and purchase agreement with another third party

Cavalier Corporation tumbles to $21.5m loss
Cavalier Corporation has reported a statutory net loss after tax of $21.5m with profitability impacted by the Covid-19 lockdown, particularly in April and May.Revenue of $118.0m was down 13 per cent on the prior year, with sales...

Cavalier moves ahead with woolly strategy, signals no profitable growth for up to two years
Cavalier Corp said a positive trading period in June and cost controls helped it reduce bank debt to historical lows of $14.5 million as the company shifts to an all-natural fibres strategy. However, the financial benefits of the...

Alan Clarke resigns as Cavalier Corp chairman
Alan Clarke has abruptly stepped down as chairman of listed carpet maker Cavalier Corp and will also retire as a director following the company's annual meeting later this year.Clarke joined the Cavalier board in November 2017 and...