CAV - Cavalier Corp (Carpets)

[percy]

It's hard to be positive about manufacturing in NZ, given our relative costs, distance from markets and small scale - unless it comes with a particular, niche quality. CAV must be one of the few wool carpet manufactuters around these days but do their products have that niche quality?

I don't know,but I doubt it.
With a NZ building boom, and ChCh rebuild, they should have made hay while the sun was shining,but didn't.
Alan Clarke who is to become Chairman does have a good record.

[blackcap]

Half decent purchase by a director. Can't be all bad....

http://nzx-prod-s7fsd7f98s.s3-websit...158/275798.pdf

[blackcap]

Buys another lot bringing total bought to over $150k... showing some faith?

http://nzx-prod-s7fsd7f98s.s3-websit...332/275999.pdf

[LAC]

Was quite surprised with the result today. Faith

[Balance]

Was quite surprised with the result today. Faith

Results were announced 23rd Feb - today's the glossy interim report.

[LAC]

Results were announced 23rd Feb - today's the glossy interim report.

Ahh didn't realize that. Just read it as it popped up in the announcements list this morning

[blackcap]

Ahh didn't realize that. Just read it as it popped up in the announcements list this morning

The good thing for me is they have reduced inventory and in doing so paid off debt.

The bit that I have question marks over is why is the $35m or so debt a current debt and they have been paying off non-current debt. Would it not be better to relinquish some short term debt and worry about the long term stuff later?
Is short term debt not more expensive that long term debt?

[Scrunch]

The good thing for me is they have reduced inventory and in doing so paid off debt.

The bit that I have question marks over is why is the $35m or so debt a current debt and they have been paying off non-current debt. Would it not be better to relinquish some short term debt and worry about the long term stuff later?
Is short term debt not more expensive that long term debt?

Non current or term debt will flip to being called current debt when there is less than 1 year left on the fixed term. It will still carry agreed interest rates until it flips to floating. At some stage another slice of debt will be fixed for a multi-year term and term debt volumes go up again, with a corresponding drop in current debt.

[blackcap]

Non current or term debt will flip to being called current debt when there is less than 1 year left on the fixed term. It will still carry agreed interest rates until it flips to floating. At some stage another slice of debt will be fixed for a multi-year term and term debt volumes go up again, with a corresponding drop in current debt.

Thanks Scrunch, appreciate the reply. So its just term debt (the big amount) with the timing being that there is less than 1 year to go and then when they renew it it will become a non-current liability again?

[JoeM]

The good thing for me is they have reduced inventory and in doing so paid off debt.

The bit that I have question marks over is why is the $35m or so debt a current debt and they have been paying off non-current debt. Would it not be better to relinquish some short term debt and worry about the long term stuff later?
Is short term debt not more expensive that long term debt?

Not sure where you are looking but to me the headings are not well placed, from what i can see long term debt reduced from $35M to $33.6M and short term from $6.5M to $.5M. Odd to list long term before short term and not have a sub-heading.