24 Nov 2015

Cavalier heading back into the black

2:16 pm on 24 November 2015

Carpet manufacturer Cavalier expects to post a full-year profit this year and return to acceptable levels in 2017.

At its annual meeting in Auckland today, the company said its normalised profit after tax for the year to June should be in the range of $3 million to $5 million.

In addition, the company said it had made a net gain of $2 million from the sale of its Sydney facility.

Last year, the company posted a full-year loss of $25.7 million because of writedowns and restructuring costs.

Now, Cavalier expects it to return to an acceptable level of profitability in the following year.

Newly appointed chief executive Paul Alston said Cavalier was also aiming to resume paying dividends.

"There are a lot of things to happen during 2016 which will see a better performance in 2017," he said.