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INVESTORS

New Brand Identity and Operational Update

MARKET RELEASE
4 November 2020


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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Country: New Zealand| Australia