Sharechat Logo

Cavalier CFO Hipkiss resigns, effective immediately

Monday 3rd April 2017

Text too small?

Cavalier Corp said Sarah Hipkiss has resigned from her position as chief financial officer with effect immediately.

The Auckland-based carpet maker didn't provide a reason for the resignation in its statement but said a process for the recruitment of a replacement for Hipkiss will get underway shortly. 

In February, Cavalier posted a sharply lower first-half profit and the carpet maker and wool scourer continues to forecast no earnings growth for the full year as the cost of work to reduce debt, rationalise inventory and restructure was having an impact, and a stronger US dollar.

Normalised earnings in the year ending June 30 are expected to be "close to breakeven," it reiterated at the time. However, while it said the short-term costs of its reinvestment activities are impacting the company "they will progressively and significantly benefit the company going forward".

The stock last traded at 62 cents, having gained nearly 9 percent over the past year. 

 

(BusinessDesk)



  General Finance Advertising    

Comments from our readers

No comments yet

Add your comment:
Your name:
Your email:
Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Related News:

SML - Synlait Milk Limited - Trading Halt of Securities
AIA - Auckland Airport announces board chair changes
AIA - Auckland Airport announces board chair changes
CEN - Tauhara commissioning progress update
FPH initiates voluntary limited recall
March 28th Morning Report
KFL Celebrates 20 Years of Excellence in Investment Mgmt.
SVR - Savor FY24 Earnings Guidance & Change in Banking Partner
NZK - NZ King Salmon Investments Limited FY24 Results
March 27th Morning Report