NZ's Cavalier hits over 1-yr high on debt reduction, guidance

Bremworth

02/07/2018 23:38

** Cavalier Corp  CAV.NZ  rises as much as 4.8 pct to
NZ$0.65, its highest since March 2017
    ** Carpet manufacturer reduces debt by over NZ$10 mln ($6.71
mln) in past year to around NZ$29.5 mln on June 30
    ** Also reaffirms FY18 NPAT expected in range NZ$3.7 mln-4
mln compared to net loss NZ$1.8 mln last year
    ** Stock posts biggest intra-day pct gain since June 5
    ** About 67,119 shares change hands, compared with the
30-day average of 59,866
    ** Stock second biggest pct gainer on the S&P NZX All
Capital index  .NZCI 
    

($1 = 1.4910 New Zealand dollars)

 ((Reuters Messaging:
Devika.Syamnath.thomsonreuters.com@reuters.net))