The Colonial Motor Company Limited Reports Unaudited Consolidated Earnings Results for the Six Months Ended December 31, 2017
February 19, 2018 at 10:05 pm EST
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The Colonial Motor Company Limited reported unaudited consolidated earnings results for the six months ended December 31, 2017. For the period, the company reported total operating revenue of NZD 461,729,000 compared to NZD 438,193,000 a year ago. Trading profit before tax was NZD 17,877,000 compared to NZD 15,244,000 a year ago. Trading profit after tax was NZD 11,903,000 or 36.4 cents basic and diluted earnings per share compared to NZD 10,270,000 or 31.4 cents basic and diluted earnings per share a year ago. Profit after tax was NZD 12,001,000 compared to NZD 10,032,000 a year ago. Profit for the period attributable to shareholders was NZD 12,001,000 or 36.7 cents basic and diluted earnings per share compared to NZD 10,032,000 or 30.7 cents basic and diluted earnings per share a year ago. Profit for the period was NZD 10,544,000 compared to NZD 11,122,000 a year ago. Net tangible assets per share (pre dividend) were NZD 5.58 compared to NZD 5.03 a year ago. Net cash outflow from operating activities was NZD 4,359,000 compared to net cash flow from operating activities NZD 12,432,000 a year ago. The record result for the company was driven by heavy trucks, with both sales volume and trading profit growing in the six month period.
The Colonial Motor Company Limited is a New Zealand-based company engaged in operating franchised motor vehicle dealerships. The Company owns and operates 12 Ford Dealerships with each holding a franchise in its own right from the Ford Motor Company of NZ Ltd. It is involved in the New Zealand (NZ) distribution and retailing of Kenworth and DAF heavy duty trucks, and the retailing of New Holland, Kubota, and Case IH tractors and equipment in Southland. The Company also has car dealerships with brands, such as Suzuki, Nissan, Kia, Hyundai, Isuzu Utes, Peugeot, Citroen and Mahindra, and motorcycle dealerships with Suzuki, Kawasaki, Yamaha, and BMW. It operates primarily in New Zealand. Its subsidiaries include Agricentre South Ltd, Avon City Motorcycles Ltd, Avon City Motors Ltd, Capital City Motors Ltd, Dunedin City Motors Ltd, Energy City Motors Ltd, Energy Motors Ltd, Fagan Motors Ltd, Hutchinson Motors Ltd, Ruahine Motors Ltd, and South Auckland Motors Ltd.