The Board of Cavalier Corporation advises that normalised earnings for the
15/16 year are likely to be around $6 million after tax. This is up $5
million on the previous year''s normalised profit after tax as a result of
improved performance by the core broadloom carpet business and the sale of
the loss-making carpet tile operation earlier in the year.
This guidance is also an improvement on the advice given in February, when
the Directors stated that 15/16 normalised profit after tax was expected to
be at the upper end of the $3 to $5 million range given to shareholders at
the November 2015 Annual Meeting.
GAAP-compliant profit will be around $2.4 million after tax. Abnormal items
will include restructuring costs in respect of the consolidation of
manufacturing operations announced in April and the gain on sale of property
announced in November 2015.
Paul Alston
Chief Executive Officer
For and on behalf of the Board of Directors
24 June 2016
For more information regarding this announcement, please contact Paul Alston
on 021 918 033 or 09 277 1135.
End CA:00284628 For:CAV Type:FORECAST Time:2016-06-24 13:48:16