Cavalier profit 62 p.c. ahead
Cavalier Corporation, Ltd, has reported an unaudited net profit after tax for the half year ending December 31, 1986 of $1,511,000 ($932,000), an increase of 62 per cent.
A interim dividend of 2.5 c a share will be paid out of retained earnings on April 1.
Total sales were $60,647,000 ($61,022,000) and export sales exceeded $46 million or 76 per cent of total sales.
Tax took $1,381,000
($469,000) and there were no extraordinary items. Cavalier Carpets has secured a major contract to carpet the forty storey Jin Jiang hotel in Shanghai, China. The hotel will open towards the end of this year, the directors said. The directors are confident that the improved results of the first half year will continue in the second half, now that efficiencies in both wool and carpet divisions have been achieved.
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Press, 24 February 1987, Page 23
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141Cavalier profit 62 p.c. ahead Press, 24 February 1987, Page 23
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