The Colonial Motor Company Limited signals a strong result for its 2016 financial year.
The new vehicle industry in which we operate has achieved all-time record levels and, in the first six months of this calendar year, new vehicle sales have grown by 5% over the comparable period of the previous year. Our volume brands, Ford and Mazda, have both achieved share growth in this rising market. The Ford Mustang, Ford Ranger, New Zealand’s number one selling vehicle, and Mazda CX5 have been at the forefront of this growth. Our heavy truck business remains strong.
We commented in the report of the first half of this financial year that there had been a distinct lift in new vehicle registrations in the December quarter and that our dealerships had benefited from the increased volumes. Trading has maintained that momentum.
We now expect our trading profit after tax for the year to 30 June 2016 to be a record result, exceeding both the 2015 result and the previous high achieved in 2014.
We anticipate announcing the unaudited preliminary full year result on 19 August 2016.
