CAV - Cavalier Corp (Carpets)

[macduffy]

Banker is BNZ.

I'm not sure of the relevance of that statement but it's interesting to note that ANZ were main bankers of the company from the founding Timpson/Biel days until.........?

[PSE]

I topped up at .37 - must be the gambler in me. Its alright though because I haven't got too much invested in this one anymore anyway

[winner69]

I topped up at .37 - must be the gambler in me. Its alright though because I haven't got too much invested in this one anymore anyway

Hey PSE .....CAV top of winners board today.

And a bit of action the last week and over 50 cents now. Somebody know something? Mayes bit of corporate action about to happen. Doubt whether Hirst would be interested - they can beat CAV up without taking them over.

PSE - you must be really rich now.well done

[Brain]

Maybe 95 c is the new normal.It may take a very long time for the Aussie dollar to strengthen against the NZ and US dollar. if this is the case then Cavalier will have a tough time unless they can find other more favourable export markets.

[winner69]

Oh dear another announcement from CAV. What can I say?

Well PSE called .....zilch this year .....a better 15/16 year and then boom times. See they have a new strategy in place ......even Deloittes and the bankers like it. Reading between the lines I think PSE was involved in formulating that strategy going forward. Look forward to hearing about it.

And to start afresh heaps of write offs this year (see PSE that NAV was a load of bollocks eh) ....but they non cash so don't count.

Good news, McKenzie finally seen the light of day and called it quits. Good rave about his performance over the last few years, that's a nice touch.

A definite turnaround here?

All I know they continue to lose share to Godfrey Hirst .....until they can start winning things continue to look bleak

But PSE, a good announcement with bits of good news

[PSE]

Mate if you buy for 30c on the dollar a few writedowns aren't going to make you worry.
Main thing at this point is to generate cash to reduce their gearing ratio so that the market stops worrying that they are going bankrupt.
How much profit has Xero made? That's right they have it in the name (zero) a 90 million dollar loss and a promise they can make profit whenever they choose.
I am in for the long haul, not trying to pick the bottom. Carpets are not exciting but that's the way I like it.
I would take the CEO of Cavalier over a bullpoo artist like Rod Drury any day.

[PSE]

CEO of cavalier says, I am embarrassed to report a failure to meet guidance. Rod says the sharemarket is stupid are loss is 30 million greater than expected but that's not a problem.
Bull manure artist versus someone who cares about the business and it's employees. I don't care at all if they aren't slick.
Re market share you keep repeating that but this relates specifically to cheap synthetics an area in which CAV cannot compete. Probably the writedowns relate to this reality but the company still has a wool scour, a wool carpet and high end synthetic business.
There are still enough healthy parts to this company if they become a retailer for cheap Chinese carpet like Godfrey Hirst have done. Reducing US and AUD are going to help here.

[PSE]

I get offended by the reference to non cash writedowns too.
If the company is written down from $1 to 80c then the people who bought at the present price (30c) will come out ok.

[winner69]

As well as winning in the cheap synthetics segment Godfrey Hirst are winning commercial contracting in Australia as well, especially the top end specification bit where real carpets are specified.

[winner69]

Jeez share rpice down to 31 cents

NTA of $1.22 I see in the last accounts

Where else on the market can you get $1.22 for 31 cents

And a lot of that value is in real stuff, like mountains of carpet

Wonder how the clearance sales are going?