NEW BRAND IDENTITY FOR CARPET BUSINESS AND OPERATIONAL UPDATE
- New Bremworth brand identity leads Cavalier’s transformational strategy towards sustainable, interior solutions business.
- Exit from synthetic carpet market well-advanced.
- Q1 results up on previous year.
- Sales revenues for first quarter of FY21 have continued to be stronger than anticipated when the Company first came out of COVID-19 Level 4 lockdown in April.
- Further reduction in net debt to $1.4m as at end of October 2020, putting the Company in a strong position from which to execute the transformation.
- Sale and leaseback of the Auckland property, with the net proceeds to be invested in supporting the new strategy, remains underway.
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NEW BRAND IDENTITY AND OPERATIONAL UPDATE