Preliminary result & dividend

Results announcement


CMO

Results for announcement to the market
Name of issuer The Colonial Motor Company Limited
Reporting Period 12 months to 30 June 2020
Previous Reporting Period 12 months to 30 June 2019
Amount (000s) Percentage change
Revenue from ordinary
activities
$ 754,922 -17.0%
Profit from ordinary activities
after tax attributable to
security holder
$ 17,349 -21.1%
Net profit attributable to
security holders
$ 21,828 0.0%
Final Dividend
Amount per Quoted Equity
Security
NZD $0.320000
Imputed amount per Quoted
Equity Security
NZD $0.124444
Record Date 25 September 2020
Dividend Payment Date 5 October 2020
Net tangible assets per
Quoted Equity Security
2020 2019
$ 6.92 $ 6.32
A brief explanation of any of
the figures above necessary
to enable the figures to be
understood
A commentary to assist in the interpretation of the figures in this
announcement is provided in the attached unaudited Preliminary
Result.
Authority for this announcement
Name of person

authorised
to make this announcement
Jack Tuohy, Acting Company Secretary
Contact phone number 04 384 9734 / 027 4450 972
Contact email address jack.tuohy@colmotor.co.nz
Date of release through MAP

25 August 2020

Unaudited financial statements accompany this announcement.

---

Distribution Notice


CMO
Page 1 of 1


Section 1: issuer information
Name of issuer The Colonial Motor Company Limited
Financial product name/description Ordinary shares
NZX ticker code CMO
ISIN (If unknown, check on NZX website) NZ CMOE0001S7
Type of distribution
(Please mark with an X in the relevant box/es)
Full Year X Quarterly
Half Year Special
DRP applies
Record date Close of trading on: 25 September 2020
Ex-Date 24 September 2020
Payment date 5 October 2020
Total monies associated with the distribution $9,894,290.54
Source of distribution Retained earnings
Currency NZ dollars
Section 2: distribution amounts
Gross distribution $0.44444444
Gross taxable amount $0.44444444
Total cash distribution $0.32000000
Excluded amount (applicable to listed PIEs) $0.00000000
Supplementary distribution amount $0.05647060
Section 3:
Is the distribution imputed Fully imputed
Imputation rate applied 28.0%
Imputation tax credits per financial product $0.12444444
Resident withhold tax amount per financial product $0.02222222
Section 4: distribution re-investment plan – not applicable
Section 5: authority for this announcement
Name of person authorised to make this
announcement Jack Tuohy, Acting Company Secretary
Contact person for this announcement Jim Gibbons, Chairman
Contact phone number 04 384 9734 / 027 495 3616
Contact email address cmc@colmotor.co.nz
Date of release via MAP 25 August 2020

---

20 August 2013


Dear Shareholder

• Trading Profit after tax $13.867m, up 17% on last year
• Final Dividend 21 cents compared to 16 cents last year

Your Directors are pleased to advise the unaudited preliminary
result for the year ended 30 June 2013.

Trading profit after tax at $13.867m is 17% up on the previous
year and a record result. Profit for the period is $14.800m
compared to $15.595m last year, which included $4.489m of
insurance recovery proceeds.

The trading result was driven by a strong growing market. The
total market for new heavy trucks, light commercials and
passenger SUVs grew, while the market for new passenger cars
was neutral. With products such as the DAF heavy trucks, Ford
Ranger light commercial, and Mazda CX5 passenger SUV, the
Company had desirable products, in growing segments, on top
of the growing market. It is in this context that the recent
announcement that Ford Australia will cease production of the
Falcon in 2016 is not expected to have a material effect.

Strong sales of both DAF and Kenworth have quickly filled the
new workshop at Hobill Ave. Having all of its operation on one
site while at the same time expanding its sales has driven an
exceptional result from Southpac Trucks. Forward orders
remain strong.

The overall value of the property portfolio has increased.
During the period the contract for sale of our Porirua property
was settled, resulting in a profit on disposal of $0.457m.

Dividend. The Directors have resolved that a fully imputed final
dividend of 21 cents per share will be paid on 21 October. This
takes the full dividend for the financial year to 30 cents per
share compared to 25 cents per share in 2012. This is a total
payout of $9.808m in dividends compared to $8.174m last
year.

The Annual Report will be mailed by the end of September and
the 95
th
Annual Meeting will be held at 11 am on Friday 1
November 2013 at the Company’s offices.

For and on behalf of the Board
J P (Jim) Gibbons
CHAIRMAN


STATEMENT OF CASH FLOWS
For the year ended 30 June 2013

2013 2012
$’000 $’000
Net Cash Flows from:
Operating Activities (2,326) 15,900
Investing Activities 401 (4,552)
Financing Activities (3,594) (7,911)
Net Increase / (Decrease)
in Cash Held (5,519) 3,437
Opening Cash Balance 9,460 6,023
Closing Cash Balance
3,941 9,460
Cashflow Reconciliation

Profit for the Period attributable


to Shareholders
14,125 15,123
Adjustment for Non Cash
Items
4,114 5,032
Movement in Working Capital
(16,485) (2,153)
Items classified as Investing
Activities
(4,000) (947)
Items classified as Financing
Activities
(80) (1,155)
Net Cashflow from Operating
Activities
(2,326) 15,900





Unaudited

PRELIMINARY
RESULT


For the year to

30 June 2013

Level 6,5 7 Co urtenay Pla ce,
PO Box 6159, Marion Square,
Wellington 6141
New Zealand

Telephone (04) 384 9734
Facsimile (04) 801 7279
E-mail address cmc@colmotor.co.nz
www.colmotor.co.nz











20 August 2013


Dear Shareholder

• Trading Profit after tax $13.867m, up 17% on last year
• Final Dividend 21 cents compared to 16 cents last year

Your Directors are pleased to advise the unaudited preliminary
result for the year ended 30 June 2013.

Trading profit after tax at $13.867m is 17% up on the previous
year and a record result. Profit for the period is $14.800m
compared to $15.595m last year, which included $4.489m of
insurance recovery proceeds.

The trading result was driven by a strong growing market. The
total market for new heavy trucks, light commercials and
passenger SUVs grew, while the market for new passenger cars
was neutral. With products such as the DAF heavy trucks, Ford
Ranger light commercial, and Mazda CX5 passenger SUV, the
Company had desirable products, in growing segments, on top
of the growing market. It is in this context that the recent
announcement that Ford Australia will cease production of the
Falcon in 2016 is not expected to have a material effect.

Strong sales of both DAF and Kenworth have quickly filled the
new workshop at Hobill Ave. Having all of its operation on one
site while at the same time expanding its sales has driven an
exceptional result from Southpac Trucks. Forward orders
remain strong.

The overall value of the property portfolio has increased.
During the period the contract for sale of our Porirua property
was settled, resulting in a profit on disposal of $0.457m.

Dividend. The Directors have resolved that a fully imputed final
dividend of 21 cents per share will be paid on 21 October. This
takes the full dividend for the financial year to 30 cents per
share compared to 25 cents per share in 2012. This is a total
payout of $9.808m in dividends compared to $8.174m last
year.

The Annual Report will be mailed by the end of September and
the 95
th
Annual Meeting will be held at 11 am on Friday 1
November 2013 at the Company’s offices.

For and on behalf of the Board
J P (Jim) Gibbons
CHAIRMAN


STATEMENT OF CASH FLOWS
For the year ended 30 June 2013

2013 2012
$’000 $’000
Net Cash Flows from:
Operating Activities (2,326) 15,900
Investing Activities 401 (4,552)
Financing Activities (3,594) (7,911)
Net Increase / (Decrease)
in Cash Held (5,519) 3,437
Opening Cash Balance 9,460 6,023
Closing Cash Balance
3,941 9,460
Cashflow Reconciliation

Profit for the Period attributable


to Shareholders
14,125 15,123
Adjustment for Non Cash
Items
4,114 5,032
Movement in Working Capital
(16,485) (2,153)
Items classified as Investing
Activities
(4,000) (947)
Items classified as Financing
Activities
(80) (1,155)
Net Cashflow from Operating
Activities
(2,326) 15,900





Unaudited

PRELIMINARY
RESULT


For the year to

30 June 2013

Level 6,5 7 Co urtenay Pla ce,
PO Box 6159, Marion Square,
Wellington 6141
New Zealand

Telephone (04) 384 9734
Facsimile (04) 801 7279
E-mail address cmc@colmotor.co.nz
www.colmotor.co.nz











20 August 2013


Dear Shareholder

• Trading Profit after tax $13.867m, up 17% on last year
• Final Dividend 21 cents compared to 16 cents last year

Your Directors are pleased to advise the unaudited preliminary
result for the year ended 30 June 2013.

Trading profit after tax at $13.867m is 17% up on the previous
year and a record result. Profit for the period is $14.800m
compared to $15.595m last year, which included $4.489m of
insurance recovery proceeds.

The trading result was driven by a strong growing market. The
total market for new heavy trucks, light commercials and
passenger SUVs grew, while the market for new passenger cars
was neutral. With products such as the DAF heavy trucks, Ford
Ranger light commercial, and Mazda CX5 passenger SUV, the
Company had desirable products, in growing segments, on top
of the growing market. It is in this context that the recent
announcement that Ford Australia will cease production of the
Falcon in 2016 is not expected to have a material effect.

Strong sales of both DAF and Kenworth have quickly filled the
new workshop at Hobill Ave. Having all of its operation on one
site while at the same time expanding its sales has driven an
exceptional result from Southpac Trucks. Forward orders
remain strong.

The overall value of the property portfolio has increased.
During the period the contract for sale of our Porirua property
was settled, resulting in a profit on disposal of $0.457m.

Dividend. The Directors have resolved that a fully imputed final
dividend of 21 cents per share will be paid on 21 October. This
takes the full dividend for the financial year to 30 cents per
share compared to 25 cents per share in 2012. This is a total
payout of $9.808m in dividends compared to $8.174m last
year.

The Annual Report will be mailed by the end of September and
the 95
th
Annual Meeting will be held at 11 am on Friday 1
November 2013 at the Company’s offices.

For and on behalf of the Board
J P (Jim) Gibbons
CHAIRMAN


STATEMENT OF CASH FLOWS
For the year ended 30 June 2013

2013 2012
$’000 $’000
Net Cash Flows from:
Operating Activities (2,326) 15,900
Investing Activities 401 (4,552)
Financing Activities (3,594) (7,911)
Net Increase / (Decrease)
in Cash Held (5,519) 3,437
Opening Cash Balance 9,460 6,023
Closing Cash Balance
3,941 9,460
Cashflow Reconciliation

Profit for the Period attributable


to Shareholders
14,125 15,123
Adjustment for Non Cash
Items
4,114 5,032
Movement in Working Capital
(16,485) (2,153)
Items classified as Investing
Activities
(4,000) (947)
Items classified as Financing
Activities
(80) (1,155)
Net Cashflow from Operating
Activities
(2,326) 15,900





Unaudited

PRELIMINARY
RESULT


For the year to

30 June 2013

Level 6,5 7 Co urtenay Pla ce,
PO Box 6159, Marion Square,
Wellington 6141
New Zealand

Telephone (04) 384 9734
Facsimile (04) 801 7279
E-mail address cmc@colmotor.co.nz
www.colmotor.co.nz










For the year ended
30 June 2020

20 August 2013


Dear Shareholder

• Trading Profit after tax $13.867m, up 17% on last year
• Final Dividend 21 cents compared to 16 cents last year

Your Directors are pleased to advise the unaudited preliminary
result for the year ended 30 June 2013.

Trading profit after tax at $13.867m is 17% up on the previous
year and a record result. Profit for the period is $14.800m
compared to $15.595m last year, which included $4.489m of
insurance recovery proceeds.

The trading result was driven by a strong growing market. The
total market for new heavy trucks, light commercials and
passenger SUVs grew, while the market for new passenger cars
was neutral. With products such as the DAF heavy trucks, Ford
Ranger light commercial, and Mazda CX5 passenger SUV, the
Company had desirable products, in growing segments, on top
of the growing market. It is in this context that the recent
announcement that Ford Australia will cease production of the
Falcon in 2016 is not expected to have a material effect.

Strong sales of both DAF and Kenworth have quickly filled the
new workshop at Hobill Ave. Having all of its operation on one
site while at the same time expanding its sales has driven an
exceptional result from Southpac Trucks. Forward orders
remain strong.

The overall value of the property portfolio has increased.
During the period the contract for sale of our Porirua property
was settled, resulting in a profit on disposal of $0.457m.

Dividend. The Directors have resolved that a fully imputed final
dividend of 21 cents per share will be paid on 21 October. This
takes the full dividend for the financial year to 30 cents per
share compared to 25 cents per share in 2012. This is a total
payout of $9.808m in dividends compared to $8.174m last
year.

The Annual Report will be mailed by the end of September and
the 95
th
Annual Meeting will be held at 11 am on Friday 1
November 2013 at the Company’s offices.

For and on behalf of the Board
J P (Jim) Gibbons
CHAIRMAN


STATEMENT OF CASH FLOWS
For the year ended 30 June 2013

2013 2012
$’000 $’000
Net Cash Flows from:
Operating Activities (2,326) 15,900
Investing Activities 401 (4,552)
Financing Activities (3,594) (7,911)
Net Increase / (Decrease)
in Cash Held (5,519) 3,437
Opening Cash Balance 9,460 6,023
Closing Cash Balance
3,941 9,460
Cashflow Reconciliation

Profit for the Period attributable


to Shareholders
14,125 15,123
Adjustment for Non Cash
Items
4,114 5,032
Movement in Working Capital
(16,485) (2,153)
Items classified as Investing
Activities
(4,000) (947)
Items classified as Financing
Activities
(80) (1,155)
Net Cashflow from Operating
Activities
(2,326) 15,900





Unaudited

PRELIMINARY
RESULT


For the year to

30 June 2013

Level 6,5 7 Co urtenay Pla ce,
PO Box 6159, Marion Square,
Wellington 6141
New Zealand

Telephone (04) 384 9734
Facsimile (04) 801 7279
E-mail address cmc@colmotor.co.nz
www.colmotor.co.nz












●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●
25 August 2020
Dear Shareholder
 Revenue for the year was $754.9m, down 17% on last year
 Trading profit after tax at $17.3m, down 21% on last year
 Dividend for the year of 32 cps

The directors consider the trading profit after tax for the year at
$17.3m to be very satisfactory given the challenges of the Covid
impacted months.

Revenue was down 37% in March, 87% in April and 27% in May.
It was a very volatile six months, with most of the Company in
hibernation in April, followed by a sudden and strong bounce back
after the initial restrictions were lifted. Profitability suffered in
March and April but recovered in May and June. Inventory, along
with floorplan finance and bank borrowing is down on last year at
balance date. Full year remuneration paid to employees, which
includes the wage subsidy, was similar to last year.

The tax deductibility of depreciation on buildings will be resumed
as part of the Government’s response to the Covid crisis. This has
an impact on deferred tax, reversing the tax loss recorded in 2010
when the depreciation deductibility was stopped and creating a
non cash deferred tax gain of $6.58m.

The Covid lockdown has delayed but not stopped the Company-
owned developments at Cromwell, Wanaka, Christchurch, Lower
Hutt, Manukau and Botany.

Outlook
Volatility is expected to continue with uncertainty from the Covid
shutdowns, consumer responses to this and the impact on the
wider economy. It is currently not possible to make predictions
with any confidence into the future. However, the Company has
demonstrated that it can absorb and bounce back from adverse
conditions. The balance sheet is strong, providing resilience in this
environment.

Dividend
The interim dividend of 15cps was cancelled on 24 March at the
start of the level four lockdown. Post lockdown trading in May and
June bounced back strongly. Consequently, a fully imputed
dividend of 32 cps, representing 60% of the full year trading profit
after tax, has been declared to be paid on 5 October with a record
date of 25 September. Note this is an earlier payment date than
normal.

The 2020 Annual Report will be published in late September,
including notice for the 102
nd
Annual General Meeting to be held
at The Harbourside Function Venue, 4 Taranaki Street, Wellington
at midday on Friday, 6 November 2020.


For and on behalf of the Board
J P (Jim) Gibbons
CHAIRMAN





STATEMENT OF CASH FLOWS
For the year ended 30 June 2020

2020 2019
$’000 $’000
Restated
Net Cash Flows from:
Operating Activities 64,221 38,068
Investing Activities (13,244) (17,356)
Financing Activities (41,164) (23,781)
Net Increase/(Decrease)
in Cash Held 9,813 (3,069)
Opening Cash Balance 7,182 10,251
Closing Cash Balance 16,995 7,182


Cash Flow Reconciliation

Profit for the Year 23,083 23,503
Adjustment for Non Cash Items
1,915 6,156
Movement in Working Capital
39,223 8,409
Net Cash Flow from
Operating Activities
64,221 38,068





Level 6, 57 Courtenay Place,
PO Box 6159, Marion Square,
Wellington 6141
New Zealand

Telephone (04) 384 9734
Facsimile (04) 801 7279
E-mail address cmc@colmotor.co.nz
www.colmotor.co.nz

Unaudited
PRELIMINARY
RESULT

For the year ended
30 June 2020

●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●● ●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●● ●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●
STATEMENT OF PROFIT OR LOSS
For the year ended 30 June 2020


2020 2019

$’000 $’000
Restated
Revenue

Products 679,759 842,024
Services 66,200 64,900
Other Income 8,963 2,078
Total Revenue 754,922 909,002

Less Expenses

Cost of Products Sold 609,316 757,262
Remuneration of Staff 76,118 75,995
Depreciation &
Amortisation
6,289 5,955
Interest 4,600 5,681
Other 31,988 30,514
Trading Profit before Tax 26,611 33,595
Less Taxation
Current 7,879 9,880
Deferred 128 53
18,604 23,662
Less Non Controlling Interest 1,255 1,673
Trading Profit after Tax 17,349 21,989
Property – Fair Value Movement
(2,040) (243)
Deferred Tax Movement 6,576 141
Investment – Fair Value Movement (57) (57)
Profit after Tax 21,828 21,830
Profit for the year attributable to:
Shareholders 21,828 21,830
Non Controlling Interest 1,255 1,673
PROFIT FOR THE YEAR 23,083 23,503



STATEMENT OF COMPREHENSIVE INCOME
For the year ended 30 June 2020

2020 2019

$’000 $’000


Restated
Profit for the year
23,083 23,503
Other comprehensive income

Items that will not be reclassified
subsequently to profit or loss:

Property revaluation reserve
Change in fair value 6,476 6,982
Deferred tax movement 515 53
Items that may be classified subsequently
to profit or loss:

Foreign exchange hedging reserve
Change in fair value 785 (505)
Deferred tax movement (220) 141
Total comprehensive income
30,639 30,174
Attributable to:

Shareholders 29,299 28,556
Non Controlling Interest 1,340 1,618

30,639 30,174



2020 2019
Basic & Diluted Earnings per Share on

- Profit for the year 66.8c 66.8c
- Trading Profit after Tax 53.1c 67.3c
Dividend per Share 32.0c 45.0c
Net Tangible Assets per Share $6.92 $6.32

STATEMENT OF CHANGES IN EQUITY
For the year ended 30 June 2020

2020 2019

$’000 $’000


Restated
Equity at beginning of year
210,944 198,467
Total comprehensive income 30,639 30,174
Dividends paid to Shareholders (9,808) (16,347)
Dividend paid to Non Controlling Interest (975) (1,350)
Equity at end of year 230,800 210,944

BALANCE SHEET
As at 30 June 2020

2020 2019
$’000 $’000


Restated
Liabilities

Bank Borrowings 19,235 35,856
At Call Deposits 27,388 24,008
Vehicle Floorplan Finance 42,851 58,613
Credit Contracts 1,404 1,773
Other Current Liabilities 47,000 50,472
Total Current Liabilities 137,878 170,722
Non Current Liabilities

Lease Liabilities
13,175 14,798
Credit Contracts 2,379 2,759
Deferred Tax - 3,589
Total Non Current Liabilities 15,554 21,146
Shareholders’ Equity
227,310 207,819
Non Controlling Interest 3,490 3,125
Total Equity 230,800 210,944
Total Equity and Liabilities 384,232 402,812


Assets

Inventory 139,291 168,329
Cash & Bank 16,995 7,182
Credit Contracts 1,379 1,738
Other Current Assets 42,857 55,493
Total Current Assets 200,522 232,742

Non Current Assets

Property, Plant & Equipment 174,246 163,316
Credit Contracts 2,379 2,761
Other Non Current Assets 7,085 3,993
Total Non Current Assets 183,710 170,070

Total Assets 384,232 402,812

These summary consolidated Financial Statements have
not been audited. Comparatives have been restated to reflect the
adoption of NZ IFRS 16 – Leases



●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●● ●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●● ●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●
STATEMENT OF PROFIT OR LOSS
For the year ended 30 June 2020


2020 2019

$’000 $’000
Restated
Revenue

Products 679,759 842,024
Services 66,200 64,900
Other Income 8,963 2,078
Total Revenue 754,922 909,002

Less Expenses

Cost of Products Sold 609,316 757,262
Remuneration of Staff 76,118 75,995
Depreciation &
Amortisation
6,289 5,955
Interest 4,600 5,681
Other 31,988 30,514
Trading Profit before Tax 26,611 33,595
Less Taxation
Current 7,879 9,880
Deferred 128 53
18,604 23,662
Less Non Controlling Interest 1,255 1,673
Trading Profit after Tax 17,349 21,989
Property – Fair Value Movement
(2,040) (243)
Deferred Tax Movement 6,576 141
Investment – Fair Value Movement (57) (57)
Profit after Tax 21,828 21,830
Profit for the year attributable to:
Shareholders 21,828 21,830
Non Controlling Interest 1,255 1,673
PROFIT FOR THE YEAR 23,083 23,503



STATEMENT OF COMPREHENSIVE INCOME
For the year ended 30 June 2020

2020 2019

$’000 $’000


Restated
Profit for the year
23,083 23,503
Other comprehensive income

Items that will not be reclassified
subsequently to profit or loss:

Property revaluation reserve
Change in fair value 6,476 6,982
Deferred tax movement 515 53
Items that may be classified subsequently
to profit or loss:

Foreign exchange hedging reserve
Change in fair value 785 (505)
Deferred tax movement (220) 141
Total comprehensive income
30,639 30,174
Attributable to:

Shareholders 29,299 28,556
Non Controlling Interest 1,340 1,618

30,639 30,174



2020 2019
Basic & Diluted Earnings per Share on

- Profit for the year 66.8c 66.8c
- Trading Profit after Tax 53.1c 67.3c
Dividend per Share 32.0c 45.0c
Net Tangible Assets per Share $6.92 $6.32

STATEMENT OF CHANGES IN EQUITY
For the year ended 30 June 2020

2020 2019

$’000 $’000


Restated
Equity at beginning of year
210,944 198,467
Total comprehensive income 30,639 30,174
Dividends paid to Shareholders (9,808) (16,347)
Dividend paid to Non Controlling Interest (975) (1,350)
Equity at end of year 230,800 210,944

BALANCE SHEET
As at 30 June 2020

2020 2019
$’000 $’000


Restated
Liabilities

Bank Borrowings 19,235 35,856
At Call Deposits 27,388 24,008
Vehicle Floorplan Finance 42,851 58,613
Credit Contracts 1,404 1,773
Other Current Liabilities 47,000 50,472
Total Current Liabilities 137,878 170,722
Non Current Liabilities

Lease Liabilities
13,175 14,798
Credit Contracts 2,379 2,759
Deferred Tax - 3,589
Total Non Current Liabilities 15,554 21,146
Shareholders’ Equity
227,310 207,819
Non Controlling Interest 3,490 3,125
Total Equity 230,800 210,944
Total Equity and Liabilities 384,232 402,812


Assets

Inventory 139,291 168,329
Cash & Bank 16,995 7,182
Credit Contracts 1,379 1,738
Other Current Assets 42,857 55,493
Total Current Assets 200,522 232,742

Non Current Assets

Property, Plant & Equipment 174,246 163,316
Credit Contracts 2,379 2,761
Other Non Current Assets 7,085 3,993
Total Non Current Assets 183,710 170,070

Total Assets 384,232 402,812

These summary consolidated Financial Statements have
not been audited. Comparatives have been restated to reflect the
adoption of NZ IFRS 16 – Leases

●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●● ●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●● ●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●
STATEMENT OF PROFIT OR LOSS
For the year ended 30 June 2020


2020 2019

$’000 $’000
Restated
Revenue

Products 679,759 842,024
Services 66,200 64,900
Other Income 8,963 2,078
Total Revenue 754,922 909,002

Less Expenses

Cost of Products Sold 609,316 757,262
Remuneration of Staff 76,118 75,995
Depreciation &
Amortisation
6,289 5,955
Interest 4,600 5,681
Other 31,988 30,514
Trading Profit before Tax 26,611 33,595
Less Taxation
Current 7,879 9,880
Deferred 128 53
18,604 23,662
Less Non Controlling Interest 1,255 1,673
Trading Profit after Tax 17,349 21,989
Property – Fair Value Movement
(2,040) (243)
Deferred Tax Movement 6,576 141
Investment – Fair Value Movement (57) (57)
Profit after Tax 21,828 21,830
Profit for the year attributable to:
Shareholders 21,828 21,830
Non Controlling Interest 1,255 1,673
PROFIT FOR THE YEAR 23,083 23,503



STATEMENT OF COMPREHENSIVE INCOME
For the year ended 30 June 2020

2020 2019

$’000 $’000


Restated
Profit for the year
23,083 23,503
Other comprehensive income

Items that will not be reclassified
subsequently to profit or loss:

Property revaluation reserve
Change in fair value 6,476 6,982
Deferred tax movement 515 53
Items that may be classified subsequently
to profit or loss:

Foreign exchange hedging reserve
Change in fair value 785 (505)
Deferred tax movement (220) 141
Total comprehensive income
30,639 30,174
Attributable to:

Shareholders 29,299 28,556
Non Controlling Interest 1,340 1,618

30,639 30,174



2020 2019
Basic & Diluted Earnings per Share on

- Profit for the year 66.8c 66.8c
- Trading Profit after Tax 53.1c 67.3c
Dividend per Share 32.0c 45.0c
Net Tangible Assets per Share $6.92 $6.32

STATEMENT OF CHANGES IN EQUITY
For the year ended 30 June 2020

2020 2019

$’000 $’000


Restated
Equity at beginning of year
210,944 198,467
Total comprehensive income 30,639 30,174
Dividends paid to Shareholders (9,808) (16,347)
Dividend paid to Non Controlling Interest (975) (1,350)
Equity at end of year 230,800 210,944

BALANCE SHEET
As at 30 June 2020

2020 2019
$’000 $’000


Restated
Liabilities

Bank Borrowings 19,235 35,856
At Call Deposits 27,388 24,008
Vehicle Floorplan Finance 42,851 58,613
Credit Contracts 1,404 1,773
Other Current Liabilities 47,000 50,472
Total Current Liabilities 137,878 170,722
Non Current Liabilities

Lease Liabilities
13,175 14,798
Credit Contracts 2,379 2,759
Deferred Tax - 3,589
Total Non Current Liabilities 15,554 21,146
Shareholders’ Equity
227,310 207,819
Non Controlling Interest 3,490 3,125
Total Equity 230,800 210,944
Total Equity and Liabilities 384,232 402,812


Assets

Inventory 139,291 168,329
Cash & Bank 16,995 7,182
Credit Contracts 1,379 1,738
Other Current Assets 42,857 55,493
Total Current Assets 200,522 232,742

Non Current Assets

Property, Plant & Equipment 174,246 163,316
Credit Contracts 2,379 2,761
Other Non Current Assets 7,085 3,993
Total Non Current Assets 183,710 170,070

Total Assets 384,232 402,812

These summary consolidated Financial Statements have
not been audited. Comparatives have been restated to reflect the
adoption of NZ IFRS 16 – Leases



●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●● ●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●● ●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●
STATEMENT OF PROFIT OR LOSS
For the year ended 30 June 2020


2020 2019

$’000 $’000
Restated
Revenue

Products 679,759 842,024
Services 66,200 64,900
Other Income 8,963 2,078
Total Revenue 754,922 909,002

Less Expenses

Cost of Products Sold 609,316 757,262
Remuneration of Staff 76,118 75,995
Depreciation &
Amortisation
6,289 5,955
Interest 4,600 5,681
Other 31,988 30,514
Trading Profit before Tax 26,611 33,595
Less Taxation
Current 7,879 9,880
Deferred 128 53
18,604 23,662
Less Non Controlling Interest 1,255 1,673
Trading Profit after Tax 17,349 21,989
Property – Fair Value Movement
(2,040) (243)
Deferred Tax Movement 6,576 141
Investment – Fair Value Movement (57) (57)
Profit after Tax 21,828 21,830
Profit for the year attributable to:
Shareholders 21,828 21,830
Non Controlling Interest 1,255 1,673
PROFIT FOR THE YEAR 23,083 23,503



STATEMENT OF COMPREHENSIVE INCOME
For the year ended 30 June 2020

2020 2019

$’000 $’000


Restated
Profit for the year
23,083 23,503
Other comprehensive income

Items that will not be reclassified
subsequently to profit or loss:

Property revaluation reserve
Change in fair value 6,476 6,982
Deferred tax movement 515 53
Items that may be classified subsequently
to profit or loss:

Foreign exchange hedging reserve
Change in fair value 785 (505)
Deferred tax movement (220) 141
Total comprehensive income
30,639 30,174
Attributable to:

Shareholders 29,299 28,556
Non Controlling Interest 1,340 1,618

30,639 30,174



2020 2019
Basic & Diluted Earnings per Share on

- Profit for the year 66.8c 66.8c
- Trading Profit after Tax 53.1c 67.3c
Dividend per Share 32.0c 45.0c
Net Tangible Assets per Share $6.92 $6.32

STATEMENT OF CHANGES IN EQUITY
For the year ended 30 June 2020

2020 2019

$’000 $’000


Restated
Equity at beginning of year
210,944 198,467
Total comprehensive income 30,639 30,174
Dividends paid to Shareholders (9,808) (16,347)
Dividend paid to Non Controlling Interest (975) (1,350)
Equity at end of year 230,800 210,944

BALANCE SHEET
As at 30 June 2020

2020 2019
$’000 $’000


Restated
Liabilities

Bank Borrowings 19,235 35,856
At Call Deposits 27,388 24,008
Vehicle Floorplan Finance 42,851 58,613
Credit Contracts 1,404 1,773
Other Current Liabilities 47,000 50,472
Total Current Liabilities 137,878 170,722
Non Current Liabilities

Lease Liabilities
13,175 14,798
Credit Contracts 2,379 2,759
Deferred Tax - 3,589
Total Non Current Liabilities 15,554 21,146
Shareholders’ Equity
227,310 207,819
Non Controlling Interest 3,490 3,125
Total Equity 230,800 210,944
Total Equity and Liabilities 384,232 402,812


Assets

Inventory 139,291 168,329
Cash & Bank 16,995 7,182
Credit Contracts 1,379 1,738
Other Current Assets 42,857 55,493
Total Current Assets 200,522 232,742

Non Current Assets

Property, Plant & Equipment 174,246 163,316
Credit Contracts 2,379 2,761
Other Non Current Assets 7,085 3,993
Total Non Current Assets 183,710 170,070

Total Assets 384,232 402,812

These summary consolidated Financial Statements have
not been audited. Comparatives have been restated to reflect the
adoption of NZ IFRS 16 – Leases

●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●● ●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●● ●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●
STATEMENT OF PROFIT OR LOSS
For the year ended 30 June 2020


2020 2019

$’000 $’000
Restated
Revenue

Products 679,759 842,024
Services 66,200 64,900
Other Income 8,963 2,078
Total Revenue 754,922 909,002

Less Expenses

Cost of Products Sold 609,316 757,262
Remuneration of Staff 76,118 75,995
Depreciation &
Amortisation
6,289 5,955
Interest 4,600 5,681
Other 31,988 30,514
Trading Profit before Tax 26,611 33,595
Less Taxation
Current 7,879 9,880
Deferred 128 53
18,604 23,662
Less Non Controlling Interest 1,255 1,673
Trading Profit after Tax 17,349 21,989
Property – Fair Value Movement
(2,040) (243)
Deferred Tax Movement 6,576 141
Investment – Fair Value Movement (57) (57)
Profit after Tax 21,828 21,830
Profit for the year attributable to:
Shareholders 21,828 21,830
Non Controlling Interest 1,255 1,673
PROFIT FOR THE YEAR 23,083 23,503



STATEMENT OF COMPREHENSIVE INCOME
For the year ended 30 June 2020

2020 2019

$’000 $’000


Restated
Profit for the year
23,083 23,503
Other comprehensive income

Items that will not be reclassified
subsequently to profit or loss:

Property revaluation reserve
Change in fair value 6,476 6,982
Deferred tax movement 515 53
Items that may be classified subsequently
to profit or loss:

Foreign exchange hedging reserve
Change in fair value 785 (505)
Deferred tax movement (220) 141
Total comprehensive income
30,639 30,174
Attributable to:

Shareholders 29,299 28,556
Non Controlling Interest 1,340 1,618

30,639 30,174



2020 2019
Basic & Diluted Earnings per Share on

- Profit for the year 66.8c 66.8c
- Trading Profit after Tax 53.1c 67.3c
Dividend per Share 32.0c 45.0c
Net Tangible Assets per Share $6.92 $6.32

STATEMENT OF CHANGES IN EQUITY
For the year ended 30 June 2020

2020 2019

$’000 $’000


Restated
Equity at beginning of year
210,944 198,467
Total comprehensive income 30,639 30,174
Dividends paid to Shareholders (9,808) (16,347)
Dividend paid to Non Controlling Interest (975) (1,350)
Equity at end of year 230,800 210,944

BALANCE SHEET
As at 30 June 2020

2020 2019
$’000 $’000


Restated
Liabilities

Bank Borrowings 19,235 35,856
At Call Deposits 27,388 24,008
Vehicle Floorplan Finance 42,851 58,613
Credit Contracts 1,404 1,773
Other Current Liabilities 47,000 50,472
Total Current Liabilities 137,878 170,722
Non Current Liabilities

Lease Liabilities
13,175 14,798
Credit Contracts 2,379 2,759
Deferred Tax - 3,589
Total Non Current Liabilities 15,554 21,146
Shareholders’ Equity
227,310 207,819
Non Controlling Interest 3,490 3,125
Total Equity 230,800 210,944
Total Equity and Liabilities 384,232 402,812


Assets

Inventory 139,291 168,329
Cash & Bank 16,995 7,182
Credit Contracts 1,379 1,738
Other Current Assets 42,857 55,493
Total Current Assets 200,522 232,742

Non Current Assets

Property, Plant & Equipment 174,246 163,316
Credit Contracts 2,379 2,761
Other Non Current Assets 7,085 3,993
Total Non Current Assets 183,710 170,070

Total Assets 384,232 402,812

These summary consolidated Financial Statements have
not been audited. Comparatives have been restated to reflect the
adoption of NZ IFRS 16 – Leases



●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●● ●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●● ●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●
STATEMENT OF PROFIT OR LOSS
For the year ended 30 June 2020


2020 2019

$’000 $’000
Restated
Revenue

Products 679,759 842,024
Services 66,200 64,900
Other Income 8,963 2,078
Total Revenue 754,922 909,002

Less Expenses

Cost of Products Sold 609,316 757,262
Remuneration of Staff 76,118 75,995
Depreciation &
Amortisation
6,289 5,955
Interest 4,600 5,681
Other 31,988 30,514
Trading Profit before Tax 26,611 33,595
Less Taxation
Current 7,879 9,880
Deferred 128 53
18,604 23,662
Less Non Controlling Interest 1,255 1,673
Trading Profit after Tax 17,349 21,989
Property – Fair Value Movement
(2,040) (243)
Deferred Tax Movement 6,576 141
Investment – Fair Value Movement (57) (57)
Profit after Tax 21,828 21,830
Profit for the year attributable to:
Shareholders 21,828 21,830
Non Controlling Interest 1,255 1,673
PROFIT FOR THE YEAR 23,083 23,503



STATEMENT OF COMPREHENSIVE INCOME
For the year ended 30 June 2020

2020 2019

$’000 $’000


Restated
Profit for the year
23,083 23,503
Other comprehensive income

Items that will not be reclassified
subsequently to profit or loss:

Property revaluation reserve
Change in fair value 6,476 6,982
Deferred tax movement 515 53
Items that may be classified subsequently
to profit or loss:

Foreign exchange hedging reserve
Change in fair value 785 (505)
Deferred tax movement (220) 141
Total comprehensive income
30,639 30,174
Attributable to:

Shareholders 29,299 28,556
Non Controlling Interest 1,340 1,618

30,639 30,174



2020 2019
Basic & Diluted Earnings per Share on

- Profit for the year 66.8c 66.8c
- Trading Profit after Tax 53.1c 67.3c
Dividend per Share 32.0c 45.0c
Net Tangible Assets per Share $6.92 $6.32

STATEMENT OF CHANGES IN EQUITY
For the year ended 30 June 2020

2020 2019

$’000 $’000


Restated
Equity at beginning of year
210,944 198,467
Total comprehensive income 30,639 30,174
Dividends paid to Shareholders (9,808) (16,347)
Dividend paid to Non Controlling Interest (975) (1,350)
Equity at end of year 230,800 210,944

BALANCE SHEET
As at 30 June 2020

2020 2019
$’000 $’000


Restated
Liabilities

Bank Borrowings 19,235 35,856
At Call Deposits 27,388 24,008
Vehicle Floorplan Finance 42,851 58,613
Credit Contracts 1,404 1,773
Other Current Liabilities 47,000 50,472
Total Current Liabilities 137,878 170,722
Non Current Liabilities

Lease Liabilities
13,175 14,798
Credit Contracts 2,379 2,759
Deferred Tax - 3,589
Total Non Current Liabilities 15,554 21,146
Shareholders’ Equity
227,310 207,819
Non Controlling Interest 3,490 3,125
Total Equity 230,800 210,944
Total Equity and Liabilities 384,232 402,812


Assets

Inventory 139,291 168,329
Cash & Bank 16,995 7,182
Credit Contracts 1,379 1,738
Other Current Assets 42,857 55,493
Total Current Assets 200,522 232,742

Non Current Assets

Property, Plant & Equipment 174,246 163,316
Credit Contracts 2,379 2,761
Other Non Current Assets 7,085 3,993
Total Non Current Assets 183,710 170,070

Total Assets 384,232 402,812

These summary consolidated Financial Statements have
not been audited. Comparatives have been restated to reflect the
adoption of NZ IFRS 16 – Leases

20 August 2013


Dear Shareholder

• Trading Profit after tax $13.867m, up 17% on last year
• Final Dividend 21 cents compared to 16 cents last year

Your Directors are pleased to advise the unaudited preliminary
result for the year ended 30 June 2013.

Trading profit after tax at $13.867m is 17% up on the previous
year and a record result. Profit for the period is $14.800m
compared to $15.595m last year, which included $4.489m of
insurance recovery proceeds.

The trading result was driven by a strong growing market. The
total market for new heavy trucks, light commercials and
passenger SUVs grew, while the market for new passenger cars
was neutral. With products such as the DAF heavy trucks, Ford
Ranger light commercial, and Mazda CX5 passenger SUV, the
Company had desirable products, in growing segments, on top
of the growing market. It is in this context that the recent
announcement that Ford Australia will cease production of the
Falcon in 2016 is not expected to have a material effect.

Strong sales of both DAF and Kenworth have quickly filled the
new workshop at Hobill Ave. Having all of its operation on one
site while at the same time expanding its sales has driven an
exceptional result from Southpac Trucks. Forward orders
remain strong.

The overall value of the property portfolio has increased.
During the period the contract for sale of our Porirua property
was settled, resulting in a profit on disposal of $0.457m.

Dividend. The Directors have resolved that a fully imputed final
dividend of 21 cents per share will be paid on 21 October. This
takes the full dividend for the financial year to 30 cents per
share compared to 25 cents per share in 2012. This is a total
payout of $9.808m in dividends compared to $8.174m last
year.

The Annual Report will be mailed by the end of September and
the 95
th
Annual Meeting will be held at 11 am on Friday 1
November 2013 at the Company’s offices.

For and on behalf of the Board
J P (Jim) Gibbons
CHAIRMAN


STATEMENT OF CASH FLOWS
For the year ended 30 June 2013

2013 2012
$’000 $’000
Net Cash Flows from:
Operating Activities (2,326) 15,900
Investing Activities 401 (4,552)
Financing Activities (3,594) (7,911)
Net Increase / (Decrease)
in Cash Held (5,519) 3,437
Opening Cash Balance 9,460 6,023
Closing Cash Balance
3,941 9,460
Cashflow Reconciliation

Profit for the Period attributable


to Shareholders
14,125 15,123
Adjustment for Non Cash
Items
4,114 5,032
Movement in Working Capital
(16,485) (2,153)
Items classified as Investing
Activities
(4,000) (947)
Items classified as Financing
Activities
(80) (1,155)
Net Cashflow from Operating
Activities
(2,326) 15,900





Unaudited

PRELIMINARY
RESULT


For the year to

30 June 2013

Level 6,5 7 Co urtenay Pla ce,
PO Box 6159, Marion Square,
Wellington 6141
New Zealand

Telephone (04) 384 9734
Facsimile (04) 801 7279
E-mail address cmc@colmotor.co.nz
www.colmotor.co.nz












●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●
25 August 2020
Dear Shareholder
 Revenue for the year was $754.9m, down 17% on last year
 Trading profit after tax at $17.3m, down 21% on last year
 Dividend for the year of 32 cps

The directors consider the trading profit after tax for the year at
$17.3m to be very satisfactory given the challenges of the Covid
impacted months.

Revenue was down 37% in March, 87% in April and 27% in May.
It was a very volatile six months, with most of the Company in
hibernation in April, followed by a sudden and strong bounce back
after the initial restrictions were lifted. Profitability suffered in
March and April but recovered in May and June. Inventory, along
with floorplan finance and bank borrowing is down on last year at
balance date. Full year remuneration paid to employees, which
includes the wage subsidy, was similar to last year.

The tax deductibility of depreciation on buildings will be resumed
as part of the Government’s response to the Covid crisis. This has
an impact on deferred tax, reversing the tax loss recorded in 2010
when the depreciation deductibility was stopped and creating a
non cash deferred tax gain of $6.58m.

The Covid lockdown has delayed but not stopped the Company-
owned developments at Cromwell, Wanaka, Christchurch, Lower
Hutt, Manukau and Botany.

Outlook
Volatility is expected to continue with uncertainty from the Covid
shutdowns, consumer responses to this and the impact on the
wider economy. It is currently not possible to make predictions
with any confidence into the future. However, the Company has
demonstrated that it can absorb and bounce back from adverse
conditions. The balance sheet is strong, providing resilience in this
environment.

Dividend
The interim dividend of 15cps was cancelled on 24 March at the
start of the level four lockdown. Post lockdown trading in May and
June bounced back strongly. Consequently, a fully imputed
dividend of 32 cps, representing 60% of the full year trading profit
after tax, has been declared to be paid on 5 October with a record
date of 25 September. Note this is an earlier payment date than
normal.

The 2020 Annual Report will be published in late September,
including notice for the 102
nd
Annual General meeting to be held
at The Harbourside Function Venue, 4 Taranaki Street, Wellington
at midday on Friday, 6 November 2020.


For and on behalf of the Board
J P (Jim) Gibbons
CHAIRMAN





STATEMENT OF CASH FLOWS
For the year ended 30 June 2020

2020 2019
$’000 $’000
Restated
Net Cash Flows from:
Operating Activities 64,221 38,068
Investing Activities (13,244) (17,356)
Financing Activities (41,164) (23,781)
Net Increase/(Decrease)
in Cash Held 9,813 (3,069)
Opening Cash Balance 7,182 10,251
Closing Cash Balance 16,995 7,182


Cash Flow Reconciliation

Profit for the Year 23,083 23,503
Adjustment for Non Cash Items
1,915 6,156
Movement in Working Capital
39,223 8,409
Net Cash Flow from
Operating Activities
64,221 38,068





Level 6, 57 Courtenay Place,
PO Box 6159, Marion Square,
Wellington 6141
New Zealand

Telephone (04) 384 9734
Facsimile (04) 801 7279
E-mail address cmc@colmotor.co.nz
www.colmotor.co.nz

Unaudited
PRELIMINARY
RESULT

For the year ended
30 June 2020

20 August 2013


Dear Shareholder

• Trading Profit after tax $13.867m, up 17% on last year
• Final Dividend 21 cents compared to 16 cents last year

Your Directors are pleased to advise the unaudited preliminary
result for the year ended 30 June 2013.

Trading profit after tax at $13.867m is 17% up on the previous
year and a record result. Profit for the period is $14.800m
compared to $15.595m last year, which included $4.489m of
insurance recovery proceeds.

The trading result was driven by a strong growing market. The
total market for new heavy trucks, light commercials and
passenger SUVs grew, while the market for new passenger cars
was neutral. With products such as the DAF heavy trucks, Ford
Ranger light commercial, and Mazda CX5 passenger SUV, the
Company had desirable products, in growing segments, on top
of the growing market. It is in this context that the recent
announcement that Ford Australia will cease production of the
Falcon in 2016 is not expected to have a material effect.

Strong sales of both DAF and Kenworth have quickly filled the
new workshop at Hobill Ave. Having all of its operation on one
site while at the same time expanding its sales has driven an
exceptional result from Southpac Trucks. Forward orders
remain strong.

The overall value of the property portfolio has increased.
During the period the contract for sale of our Porirua property
was settled, resulting in a profit on disposal of $0.457m.

Dividend. The Directors have resolved that a fully imputed final
dividend of 21 cents per share will be paid on 21 October. This
takes the full dividend for the financial year to 30 cents per
share compared to 25 cents per share in 2012. This is a total
payout of $9.808m in dividends compared to $8.174m last
year.

The Annual Report will be mailed by the end of September and
the 95
th
Annual Meeting will be held at 11 am on Friday 1
November 2013 at the Company’s offices.

For and on behalf of the Board
J P (Jim) Gibbons
CHAIRMAN


STATEMENT OF CASH FLOWS
For the year ended 30 June 2013

2013 2012
$’000 $’000
Net Cash Flows from:
Operating Activities
(2,326) 15,900
Investing Activities 401 (4,552)
Financing Activities (3,594) (7,911)
Net Increase / (Decrease)
in Cash Held
(5,519) 3,437
Opening Cash Balance 9,460 6,023
Closing Cash Balance
3,941 9,460
Cashflow Reconciliation

Profit for the Period attributable


to Shareholders
14,125 15,123
Adjustment for Non Cash
Items
4,114 5,032
Movement in Working Capital
(16,485) (2,153)
Items classified as Investing
Activities
(4,000) (947)
Items classified as Financing
Activities
(80) (1,155)
Net Cashflow from Operating
Activities
(2,326) 15,900





Unaudited

PRELIMINARY
RESULT


For the year to

30 June 2013

Level 6,5 7 Co urtenay Pla ce,
PO Box 6159, Marion Square,
Wellington 6141
New Zealand

Telephone (04) 384 9734
Facsimile (04) 801 7279
E-mail address cmc@colmotor.co.nz
www.colmotor.co.nz