12 Nov 2009

Carpet maker expects proft rise

1:03 pm on 12 November 2009

Carpet maker Cavalier says an improving Australian economy and a focus on costs will help underpin earnings.

At its annual meeting in Auckland, the company told shareholders it's expecting its full year profit to rise 6% to $14.5 million.

It warns, however, that consumer confidence remains fragile, and with unemployment set to rise further, Cavalier says its profit could range between $13.5 million and $15.5 million.

The company expects residential carpet sales to remain flat, and demand to soften in the commercial sector.