(BusinessDesk) – Carpet maker Cavalier Corp [NZX:CAV] reported an improved first-half net profit on better margins, after restructuring the business to reduce costs and introduce a more efficient manufacturing system. Net profit rose to $1 million, or 1.5 cents per share, in the six months ended Dec. 31, from $31,000 in the prior period. Revenue fell to $75.3 million from…
DetailsTomcar Australia, subject of a round of 2017 articles that labeled it as “Australia’s last automotive manufacturer”, has gone into voluntary administration. Citing hostile investors and increasing costs of business, admistrators confirmed the turnover for Tomcar in the 2016-17 financial year was $4.65 million, despite previous reports that the companys turnover was just under $10 million.…
DetailsEmbattled real estate business McGrath says it is seeking urgent clarification from founder John McGrath over media reports alleging gambling-related debts and borrowing so that the company can update the market. McGrath went into a trading halt on Thursday ahead of an announcement it said would relate to recent media reports about Mr McGrath. The…
DetailsIt looks like the Coast is a hotspot for people going bankrupt. The Australian Financial Security Authority‘s latest personal insolvency stats are out, and 80 people reporting it in the Wyong region the December, the second highest number of any region statewide. While the Gosford region came next with 74, putting it third. The only spot…
DetailsEmbattled real estate agency McGrath will release a statement by Monday addressing recent media speculation about incoming executive chairman and founder John McGrath. The company requested a trading halt on Thursday morning, after delaying a conference call with media and analysts to discuss its half-year results. Real estate identity John McGrath has been in the…
DetailsJohn McGrath, the salesman who founded the first ASX-listed real estate agency, will tomorrow take back control of the company bearing his name, hoping to reverse a slide in revenue and profits. Revenue at ASX-listed real estate agency McGrath fell 23% to $51.6 million for the half year to December. The company posted a lost…
DetailsMore than half of companys 19,500 workers still in limbo as suppliers count cost of its failure Carillions liquidation is causing problems for former employees and along its supply chain Photograph: Yui Mok/PA A month after the government contractor Carillion folded, the effects of its failure are still filtering through. The latest cost of the…
DetailsGregory Meyer in New York February 14, 2018 Bunge has revealed an exceptionally weak finish to 2017, with results that will intensify questions over the future of the 200-year-old global agricultural trading house as an independent company. It buys crops from farmers for processing into ingredients and feeds, or for bulk shipment to customers around…
DetailsWalmart is cutting some department manager positions at lower volume stores. Many of the workers impacted by the cuts will be placed in other jobs at Walmart, including other management positions, Walmart said Walmart said last month it was removing 3,500 salaried co-managers and adding 1,700 lower-paid assistant store managers. Walmart also announced in January…
DetailsGregory Meyer in New York February 14, 2018 Bunge has revealed an exceptionally weak finish to 2017, results that will intensify questions over the future of the 200-year-old global agricultural trading house as an independent company. New York-listed Bunge on Wednesday reported a loss of $60m, or 48 cents per share, in the fourth quarter,…
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