Half Year Result to 31 December 2020

For the Six Months Ended 31 December 2020
HALF YEAR REPORT

HALF YEAR REPORT


For the Six Months Ended 31 December 2020


57 Courtenay Place
Wellington
18 February 2021


Dear Shareholder

Trading Profit after tax at $12.715m is up 58% on the same period last year
Interim Dividend resumed at 15cps, the same as the previously cancelled dividend
Total revenue grew 4.6% compared with the same period last year, with most of this growth occurring in the
last month. Favourable trading conditions flowed through to a trading profit after tax up 58% on the low 2019
result and up 18% on 2018.

The new vehicle market for the full calendar year was down 22% on the previous year, but that disguises a
stronger second half. Most of the decline in the second half was due to the absence of rental cars. The
business and private market available to dealerships in the six months was very similar to the previous year.

The new market is now dominated by supply constraints. Early Covid predictions over-estimated the market
decline resulting in reduced ordering of product by distributors. The subsequent faster and stronger recovery
has stayed ahead of supply due to capacity constraints and supply chain disruption. The issues are
widespread, not restricted to the retail motor industry or our franchise suppliers. Consumers have adapted
to this environment and are committing to forward orders or selecting from what is physically available. Near-
new used vehicles are also affected with significant shortages.

The New Zealand heavy truck market for the full calendar year was down 26% on the previous year.
Southpac Trucks has successfully launched the new Euro6 range of DAF trucks into this declining market
where the Euro6 emission standard is not mandatory.

Developments
Major developments continue. In Christchurch, work at Team Hutchinson Ford (the greenway project) will
be completed this financial year. At Lower Hutt, the separate showrooms for Ford and Mazda have been
completed while other development work on the site continues and at Botany, the new Southern Autos facility
for Suzuki and Isuzu will open in March.

Government Policy
The Government has announced that it will introduce a clean car import standard. It is a supply driven
requirement for all new vehicle importers to meet very stringent CO² emission averages by 2025. In 2020,
over 95% of the new vehicles registered in New Zealand did not meet the required average of 105gm of
CO
2
/km. The ability of the importing franchisors to meet the target in the required timeframe cannot be taken
for granted where the international supply of very low emission vehicles, including full EVs and PHEVs, is
both limited and disrupted. The new technologies necessary to meet the standard will cost significantly more
than current price ranges.

Outlook
It is expected that supply constraints and market volatili ty will continue to define the market. The need to
constantly change and adapt will continue.

Dividend
The Directors have declared a fully imputed interim dividend of 15 cents per share. The interim dividend will
be paid on 29 March, with a record date of 19 March 2021.



For and on behalf of the Board
J P Gibbons
CHAIRMAN





CONSOLIDATED STATEMENT OF FINANCIAL PERFORMANCE
For the six months ended 31 December 2020
6 Months to
31 December
2020
$’000
Unaudited
6 Months to
31 December
2019
$’000
Unaudited
12 Months to
30 June
2020
$’000
Audited
Revenue
Products 400,627 384,154 679,759
Services 35,506 33,298 66,200
Other income 1,647 1,088 8,963
Total revenue 437,780 418,540 754,922
Trading expenses
Cost of products and services sold 357,922 345,768 609,316
Remuneration of staff 40,565 39,120 76,118
Depreciation and amortisation 3,341 3,114 6,289
Interest 1,423 2,432 4,017
Other operating costs 16,293 15,976 32,567
Total trading expenses 419,544 406,410 728,307
Trading profit before tax 18,236 12,130 26,615
Taxation 4,887 3,595 8,011
Non-controlling interest 634 504 1,255
Trading profit after tax 12,715 8,031 17,349

Non-trading items Fair value adjustments after tax 74 71 4,479
Profit attributable to shareholders 12,789 8,102 21,828
Profit for the period


Profit attributable to: Shareholders 12,789 8,102 21,828
Non-controlling interest 634 504 1,255
Profit for the period 13,423 8,606 23,083

Statistics per share
Basic and diluted earnings per share
Profit attributable to shareholders (cents) 39.1 24.8 66.8
Trading profit after tax (cents) 38.9 24.6 53.1
Dividends
Dividends (cents per share) 15.0 - 32.0
Total dividends ($’000) 4,904 - 10,462

Net tangible assets per share 6.96 6.24 6.92

CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
For the six months ended 31 December 2020
6 Months to
31 December
2020
$’000
Unaudited
6 Months to
31 December
2019
$’000
Unaudited
12 Months to
30 June
2020
$’000
Audited
Profit for the period 13,423 8,606 23,083
Other comprehensive income

Items that will not be reclassified subsequently to profit or loss
Property revaluation reserve - Fair value movement after tax (184) (233) 6,991

Items that will be reclassified subsequently to profit or loss if conditions are met
Cash flow hedge reserve - Movement in fair value of hedge derivatives
after tax (898) (1,069) 565
Total other comprehensive income for the period (1,082) (1,302) 7,556
Total comprehensive income for the period 12,341 7,304 30,639

Total comprehensive income for the period attributable to:
Shareholders 11,842 6,960 29,299
Non-controlling interest 499 344 1,340
Total comprehensive income for the period 12,341 7,304 30,639

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
For the six months ended 31 December 2020

6 Months to
31 December
2020
$’000
Unaudited
6 Months to
31 December
2019
$’000
Unaudited
12 Months to
30 June
2020
$’000
Audited
Total equity at beginning of the period 230,800 210,944 210,944
Total comprehensive income 12,341 7,304 30,639
Dividends paid to shareholders (10,462) (9,808) (9,808)
Dividends paid to non-controlling interest (900) - (975)
Total equity at end of period 231,779 208,440 230,800



~ 1 ~

and Subsidiary Companiesand Subsidiary Companies


For the Six Months Ended 31 December 2020


57 Courtenay Place
Wellington
18 February 2021


Dear Shareholder

Trading Profit after tax at $12.715m is up 58% on the same period last year
Interim Dividend resumed at 15cps, the same as the previously cancelled dividend
Total revenue grew 4.6% compared with the same period last year, with most of this growth occurring in the
last month. Favourable trading conditions flowed through to a trading profit after tax up 58% on the low 2019
result and up 18% on 2018.

The new vehicle market for the full calendar year was down 22% on the previous year, but that disguises a
stronger second half. Most of the decline in the second half was due to the absence of rental cars. The
business and private market available to dealerships in the six months was very similar to the previous year.

The new market is now dominated by supply constraints. Early Covid predictions over-estimated the market
decline resulting in reduced ordering of product by distributors. The subsequent faster and stronger recovery
has stayed ahead of supply due to capacity constraints and supply chain disruption. The issues are
widespread, not restricted to the retail motor industry or our franchise suppliers. Consumers have adapted
to this environment and are committing to forward orders or selecting from what is physically available. Near-
new used vehicles are also affected with significant shortages.

The New Zealand heavy truck market for the full calendar year was down 26% on the previous year.
Southpac Trucks has successfully launched the new Euro6 range of DAF trucks into this declining market
where the Euro6 emission standard is not mandatory.

Developments
Major developments continue. In Christchurch, work at Team Hutchinson Ford (the greenway project) will
be completed this financial year. At Lower Hutt, the separate showrooms for Ford and Mazda have been
completed while other development work on the site continues and at Botany, the new Southern Autos facility
for Suzuki and Isuzu will open in March.

Government Policy
The Government has announced that it will introduce a clean car import standard. It is a supply driven
requirement for all new vehicle importers to meet very stringent CO² emission averages by 2025. In 2020,
over 95% of the new vehicles registered in New Zealand did not meet the required average of 105gm of
CO
2
/km. The ability of the importing franchisors to meet the target in the required timeframe cannot be taken
for granted where the international supply of very low emission vehicles, including full EVs and PHEVs, is
both limited and disrupted. The new technologies necessary to meet the standard will cost significantly more
than current price ranges.

Outlook
It is expected that supply constraints and market volatility will continue to define the market. The need to
constantly change and adapt will continue.

Dividend
The Directors have declared a fully imputed interim dividend of 15 cents per share. The interim dividend will
be paid on 29 March, with a record date of 19 March 2021.



For and on behalf of the Board
J P Gibbons
CHAIRMAN




CONSOLIDATED STATEMENT OF FINANCIAL PERFORMANCE
For the six months ended 31 December 2020
6 Months to
31 December
2020
$’000
Unaudited
6 Months to
31 December
2019
$’000
Unaudited
12 Months to
30 June
2020
$’000
Audited
Revenue
Products 400,627 384,154 679,759
Services 35,506 33,298 66,200
Other income 1,647 1,088 8,963
Total revenue 437,780 418,540 754,922
Trading expenses
Cost of products and services sold 357,922 345,768 609,316
Remuneration of staff 40,565 39,120 76,118
Depreciation and amortisation 3,341 3,114 6,289
Interest 1,423 2,432 4,017
Other operating costs 16,293 15,976 32,567
Total trading expenses 419,544 406,410 728,307
Trading profit before tax 18,236 12,130 26,615
Taxation 4,887 3,595 8,011
Non-controlling interest 634 504 1,255
Trading profit after tax 12,715 8,031 17,349

Non-trading items Fair value adjustments after tax 74 71 4,479
Profit attributable to shareholders 12,789 8,102 21,828
Profit for the period


Profit attributable to: Shareholders 12,789 8,102 21,828
Non-controlling interest 634 504 1,255
Profit for the period 13,423 8,606 23,083

Statistics per share
Basic and diluted earnings per share
Profit attributable to shareholders (cents) 39.1 24.8 66.8
Trading profit after tax (cents) 38.9 24.6 53.1
Dividends
Dividends (cents per share) 15.0 - 32.0
Total dividends ($’000) 4,904 - 10,462

Net tangible assets per share 6.96 6.24 6.92

CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
For the six months ended 31 December 2020
6 Months to
31 December
2020
$’000
Unaudited
6 Months to
31 December
2019
$’000
Unaudited
12 Months to
30 June
2020
$’000
Audited
Profit for the period 13,423 8,606 23,083
Other comprehensive income

Items that will not be reclassified subsequently to profit or loss
Property revaluation reserve - Fair value movement after tax (184) (233) 6,991

Items that will be reclassified subsequently to profit or loss if conditions are met
Cash flow hedge reserve - Movement in fair value of hedge derivatives
after tax (898) (1,069) 565
Total other comprehensive income for the period (1,082) (1,302) 7,556
Total comprehensive income for the period 12,341 7,304 30,639

Total comprehensive income for the period attributable to:
Shareholders 11,842 6,960 29,299
Non-controlling interest 499 344 1,340
Total comprehensive income for the period 12,341 7,304 30,639

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
For the six months ended 31 December 2020

6 Months to
31 December
2020
$’000
Unaudited
6 Months to
31 December
2019
$’000
Unaudited
12 Months to
30 June
2020
$’000
Audited
Total equity at beginning of the period 230,800 210,944 210,944
Total comprehensive income 12,341 7,304 30,639
Dividends paid to shareholders (10,462) (9,808) (9,808)
Dividends paid to non-controlling interest (900) - (975)
Total equity at end of period 231,779 208,440 230,800



~ 1 ~

and Subsidiary Companies

Peter Michels (left), Macaulay
Motors, pictured with Grant Price.
David Lavington (centre), Capital
City Motors, pictured with Matthew
Carman (left) and Graeme Gibbons
(right).
James Harford (right), Avon City Motors,
pictured with John Luxton.
Newly opened in January, Capital City Mazda’s
showroom is quite the sight, dominating the
corner of Pretoria and High Streets in Lower
Hutt. Construction continues on the Mazda
service workshop located directly behind the
showroom.
Capital City Ford’s showroom on the opposite end of the
High Street property in Lower Hutt is complete. Internally,
Ford’s latest Brand@Retail vision has been brought to
life, complete with an impressive array of showroom
lighting.
The all-new Ford Escape has refined this small SUV in
every way possible. The Escape combines performance,
comfort and the latest technology, all while improving fuel
economy.
The CX-30 is the newest addition to the Mazda family. It’s
powered by a Skyactiv-X M hybrid system which delivers
impressive fuel economy and a smooth driving experience.




CONSOLIDATED STATEMENT OF FINANCIAL POSITION
As at 31 December 2020
31 December
2020
$’000
Unaudited
31 December
2019
$’000
Unaudited
30 June
2020
$’000
Audited
Shareholders’ equity
Share capital 15,968 15,968 15,968
Retained earnings 149,539 133,211 146,936
Property revaluation reserve 63,561 56,798 64,021
Foreign exchange cash flow hedge reserve (378) (1,004) 385
Total shareholders’ equity 228,690 204,973 227,310

Non-controlling interest 3,089 3,467 3,490
Total equity 231,779 208,440 230,800

Current liabilities
Bank borrowings 13,247 25,721 19,235
At-call deposits 30,561 29,336 27,389
Trade & other payables 46,056 36,904 42,505
Vehicle floorplan finance 37,049 49,714 42,851
Lease liabilities 1,925 1,707 1,813
Other 4,560 3,192 4,085
Total current liabilities 133,398 146,574 137,878
Non-current liabilities
Lease liabilities 13,387 13,935 13,175
Other 2,203 5,464 2,379
Total non-current liabilities 15,590 19,399 15,554

Total equity and liabilities

380,767 374,413 384,232

Current assets
Cash & bank accounts 16,452 10,045 16,995
Trade & other receivables 39,711 39,008 41,882
Inventory 129,808 151,015 139,291
Other 1,331 1,518 2,354
Total current assets 187,302 201,586 200,522
Non-current assets
Property, plant & equipment 169,900 152,892 161,109
Right of use asset 13,491 13,760 13,137
Other 10,074 6,175 9,464
Total non-current assets 193,465 172,827 183,710

Total assets

380,767 374,413 384,232

CONSOLIDATED STATEMENT OF CASH FLOWS
For the six months ended 31 December 2020

6 Months to
31 December
2020
$’000
Unaudited
6 Months to
31 December
2019
$’000
Unaudited
12 Months to
30 June
2020
$’000
Audited
Operating cash flows
Inflows 439,948 435,585 768,534
Outflows (408,695) (401,934) (704,313)
Net operating cash flows 31,253 33,651 64,221
Investing cash flows
Inflows 761 257 733
Outflows (12,901) (6,707) (13,977)
Net investing cash flows (12,140) (6,450) (13,244)
Financing cash flows
Inflows 4,461 5,328 3,731
Outflows (24,117) (29,666) (44,895)
Net financing cash flows (19,656) (24,338) (41,164)
Net change in cash held (543) 2,863 9,813
Cash at beginning of period 16,995 7,182 7,182
Cash at end of period 16,452 10,045 16,995

SEGMENT INFORMATION
For the six months ended 31 December 2020

2020
Unaudited
2019
Unaudited
Operating
segment
$’000
Corporate
$’000
Total
Group
$’000
Operating
segment
$’000
Corporate
$’000
Total
Group
$’000
Revenue from customers 437,450 330 437,780 418,046 494 418,540
Trading profit before tax 16,653 1,583 18,236 10,259 1,871 12,130
Total assets 210,843 169,924 380,767 222,840 151,573 374,413

These summary consolidated financial statements have not been audited. They have been prepared using accounting policies that are
consistent with the most recent annual financial statements and comply with NZ IAS 34, Interim Financial Reporting.

The financial statements were authorised for issue by the Directors on 18 February 2021.

Peter Michels (left), Macaulay
Motors, pictured with Grant Price.
David Lavington (centre), Capital
City Motors, pictured with Matthew
Carman (left) and Graeme Gibbons
(right).
James Harford (right), Avon City Motors,
pictured with John Luxton.
Newly opened in January, Capital City Mazda’s
showroom is quite the sight, dominating the
corner of Pretoria and High Streets in Lower
Hutt. Construction continues on the Mazda
service workshop located directly behind the
showroom.
Capital City Ford’s showroom on the opposite end of the
High Street property in Lower Hutt is complete. Internally,
Ford’s latest Brand@Retail vision has been brought to
life, complete with an impressive array of showroom
lighting.
The all-new Ford Escape has refined this small SUV in
every way possible. The Escape combines performance,
comfort and the latest technology, all while improving fuel
economy.
The CX-30 is the newest addition to the Mazda family. It’s
powered by a Skyactiv-X M hybrid system which delivers
impressive fuel economy and a smooth driving experience.
~ 2 ~~ 3 ~

and Subsidiary Companies

Peter Michels (left), Macaulay
Motors, pictured with Grant Price.
David Lavington (centre), Capital
City Motors, pictured with Matthew
Carman (left) and Graeme Gibbons
(right).
James Harford (right), Avon City Motors,
pictured with John Luxton.
Newly opened in January, Capital City Mazda’s
showroom is quite the sight, dominating the
corner of Pretoria and High Streets in Lower
Hutt. Construction continues on the Mazda
service workshop located directly behind the
showroom.
Capital City Ford’s showroom on the opposite end of the
High Street property in Lower Hutt is complete. Internally,
Ford’s latest Brand@Retail vision has been brought to
life, complete with an impressive array of showroom
lighting.
The all-new Ford Escape has refined this small SUV in
every way possible. The Escape combines performance,
comfort and the latest technology, all while improving fuel
economy.
The CX-30 is the newest addition to the Mazda family. It’s
powered by a Skyactiv-X M hybrid system which delivers
impressive fuel economy and a smooth driving experience.
25
YEARS




CONSOLIDATED STATEMENT OF FINANCIAL POSITION
As at 31 December 2020
31 December
2020
$’000
Unaudited
31 December
2019
$’000
Unaudited
30 June
2020
$’000
Audited
Shareholders’ equity
Share capital 15,968 15,968 15,968
Retained earnings 149,539 133,211 146,936
Property revaluation reserve 63,561 56,798 64,021
Foreign exchange cash flow hedge reserve (378) (1,004) 385
Total shareholders’ equity 228,690 204,973 227,310

Non-controlling interest 3,089 3,467 3,490
Total equity 231,779 208,440 230,800

Current liabilities
Bank borrowings 13,247 25,721 19,235
At-call deposits 30,561 29,336 27,389
Trade & other payables 46,056 36,904 42,505
Vehicle floorplan finance 37,049 49,714 42,851
Lease liabilities 1,925 1,707 1,813
Other 4,560 3,192 4,085
Total current liabilities 133,398 146,574 137,878
Non-current liabilities
Lease liabilities 13,387 13,935 13,175
Other 2,203 5,464 2,379
Total non-current liabilities 15,590 19,399 15,554

Total equity and liabilities

380,767 374,413 384,232

Current assets
Cash & bank accounts 16,452 10,045 16,995
Trade & other receivables 39,711 39,008 41,882
Inventory 129,808 151,015 139,291
Other 1,331 1,518 2,354
Total current assets 187,302 201,586 200,522
Non-current assets
Property, plant & equipment 169,900 152,892 161,109
Right of use asset 13,491 13,760 13,137
Other 10,074 6,175 9,464
Total non-current assets 193,465 172,827 183,710

Total assets

380,767 374,413 384,232

CONSOLIDATED STATEMENT OF CASH FLOWS
For the six months ended 31 December 2020

6 Months to
31 December
2020
$’000
Unaudited
6 Months to
31 December
2019
$’000
Unaudited
12 Months to
30 June
2020
$’000
Audited
Operating cash flows
Inflows 439,948 435,585 768,534
Outflows (408,695) (401,934) (704,313)
Net operating cash flows 31,253 33,651 64,221
Investing cash flows
Inflows 761 257 733
Outflows (12,901) (6,707) (13,977)
Net investing cash flows (12,140) (6,450) (13,244)
Financing cash flows
Inflows 4,461 5,328 3,731
Outflows (24,117) (29,666) (44,895)
Net financing cash flows (19,656) (24,338) (41,164)
Net change in cash held (543) 2,863 9,813
Cash at beginning of period 16,995 7,182 7,182
Cash at end of period 16,452 10,045 16,995

SEGMENT INFORMATION
For the six months ended 31 December 2020

2020
Unaudited
2019
Unaudited
Operating
segment
$’000
Corporate
$’000
Total
Group
$’000
Operating
segment
$’000
Corporate
$’000
Total
Group
$’000
Revenue from customers 437,450 330 437,780 418,046 494 418,540
Trading profit before tax 16,653 1,583 18,236 10,259 1,871 12,130
Total assets 210,843 169,924 380,767 222,840 151,573 374,413

These summary consolidated financial statements have not been audited. They have been prepared using accounting policies that are
consistent with the most recent annual financial statements and comply with NZ IAS 34, Interim Financial Reporting.

The financial statements were authorised for issue by the Directors on 18 February 2021.

Peter Michels (left), Macaulay
Motors, pictured with Grant Price
.
David Lavington (centre), Capital
City Motors, pictured with Matthew
Carman (left) and Graeme Gibbons
(right).
James Harford (right), Avon City Motors,
pictured with John Luxton.
Newly opened in January, Capital City Mazda’s
showroom is quite the sight, dominating the
corner of Pretoria and High Streets in Lower
Hutt. Construction continues on the Mazda
service workshop located directly behind the
showroom.
Capital City Ford’s showroom on the opposite end of the
High Street property in Lower Hutt is complete. Internally,
Ford’s latest Brand@Retail vision has been brought to
life, complete with an impressive array of showroom
lighting.
The all-new Ford Escape has refined this small SUV in
every way possible. The Escape combines performance,
comfort and the latest technology, all while improving fuel
economy.
The CX-30 is the newest addition to the Mazda family. It’s
powered by a Skyactiv-X M hybrid system which delivers
impressive fuel economy and a smooth driving experience.
~ 2 ~~ 3 ~

and Subsidiary Companies
MS Motors has recently taken on Bridgestone Motueka in
addition to its Richmond Bridgestone business (pictured).
This complements the Dealership’s and the Richmond ser-
vice lane operation across the street.
Construction is well underway at Team Hutchinson Ford in
Christchurch. The public greenway can be seen bisecting the
Dealership, with the showroom and service reception building
on the Tuam Street side.
The heritage service workshop has undergone a major refur-
bishment on the St Asaph Street side. Provisions have been
made to ensure vehicles can safely traverse the greenway.
Pictured outside Timaru Motors is Wayne Hitchcock (left),
Craig Tindall (centre back), Wayne Pateman (centre front)
and Raewyn Hawkey (right) with Ford’s new Puma compact
SUV. Its sporty performance, striking silhouette, impressive
fuel economy and all the latest electronics makes it quite
the package.

The conversion of 271 Botany Road to Southern Autos’
Suzuki and Isuzu site with a five bay workshop is due to be
completed this month.
Ritchie Malam from Oratia West Auckland operates the
latest Euro6 530hp DAF, transporting aggregates in the
Auckland construction market. Southpac launched the
Euro6 range in 2020 which comes with advanced driver
safety technology, collision avoidance software, lane
departure warning, kerb side cyclist warning cameras
and low emission engines.
Karl and Pam Scott from Balclutha added this Kenworth T909
logger to their fleet. Kenworth’s market share continues to
grow with its ability to maintain traditional North American styl-
ing coupled with the introduction of the latest technology, driver
safety features, high horsepower low emissions engines, all of
which combine to deliver excellent results for the customer.

The Wanaka Service Centre opened in November 2020. The facility has successfully delivered brand separation for
both Macaulay Motors (Ford & Mazda) and Southern Lakes Motors (Nissan & Mitsubishi).
Agricentre’s new site on Old Saleyard Road in Cromwell
became operational in October 2020.
Agricentre South sporting the new Kubota orange and black
branding at their Invercargill site.
South Auckland Motors’ Ford showroom has undergone
a revamp based on Ford’s latest Brand@Retail vision.
Pictured is the customer reception area complete with
the Ford halo.
~ 4 ~~ 5 ~

and Subsidiary Companies
MS Motors has recently taken on Bridgestone Motueka in
addition to its Richmond Bridgestone business (pictured).
This complements the Dealership’s and the Richmond ser-
vice lane operation across the street.
Construction is well underway at Team Hutchinson Ford in
Christchurch. The public greenway can be seen bisecting the
Dealership, with the showroom and service reception building
on the Tuam Street side.
The heritage service workshop has undergone a major refur-
bishment on the St Asaph Street side. Provisions have been
made to ensure vehicles can safely traverse the greenway.
Pictured outside Timaru Motors is Wayne Hitchcock (left),
Craig Tindall (centre back), Wayne Pateman (centre front)
and Raewyn Hawkey (right) with Ford’s new Puma compact
SUV. Its sporty performance, striking silhouette, impressive
fuel economy and all the latest electronics makes it quite
the package.
The conversion of 271 Botany Road to Southern Autos’
Suzuki and Isuzu site with a five bay workshop is due to be
completed this month.
Ritchie Malam from Oratia West Auckland operates the
latest Euro6 530hp DAF, transporting aggregates in the
Auckland construction market. Southpac launched the
Euro6 range in 2020 which comes with advanced driver
safety technology, collision avoidance software, lane
departure warning, kerb side cyclist warning cameras
and low emission engines.
Karl and Pam Scott from Balclutha added this Kenworth T909
logger to their fleet. Kenworth’s market share continues to
grow with its ability to maintain traditional North American styl-
ing coupled with the introduction of the latest technology, driver
safety features, high horsepower low emissions engines, all of
which combine to deliver excellent results for the customer.

The Wanaka Service Centre opened in November 2020. The facility has successfully delivered brand separation for
both Macaulay Motors (Ford & Mazda) and Southern Lakes Motors (Nissan & Mitsubishi).
Agricentre’s new site on Old Saleyard Road in Cromwell
became operational in October 2020.
Agricentre South sporting the new Kubota orange and black
branding at their Invercargill site.
South Auckland Motors’ Ford showroom has undergone
a revamp based on Ford’s latest Brand@Retail vision.
Pictured is the customer reception area complete with
the Ford halo.
~ 4 ~~ 5 ~

57 Courtenay Place, PO Box 6159, Marion Square, Wellington 6141. Telephone (04) 384-9734
www.colmotor.co.nz

---

Results announcement


CMO

Results for announcement to the market
Name of Issuer The Colonial Motor Company Limited
Reporting Period 6 months to 31 December 2020
Previous Reporting Period 6 months to 31 December 2019
Currency NZ dollars
Amount (000s) Percentage change
Revenue from continuing operations 437,780 4.6%
Total Revenue 437,780 4.6%
Net profit from continuing operations 12,715 58.3%
Net profit from continuing operations
attributable to security holders
12,789 57.8%
Total net profit attributable to security
holders
12,789 57.8%
Interim Dividend
Amount per Quoted Equity Security NZD $0.15000000
Imputed amount per Quoted Equity Security NZD $0.05833333
Record Date 19 March 2021
Dividend Payment Date 29 March 2021

Current period Prior comparable
period
Net tangible assets per Quoted Equity
Security
$6.96 $6.24

Commentary
A commentary to assist in the interpretation of the
figures in this announcement is provided in the
attached unaudited Half Year Report.

Authority for this announcement
Name of person

authorised to make this
announcement
Jack Tuohy, Company Secretary
Contact person for this announcement Jim Gibbons, Chairman
Contact phone number 04 384 9734
Contact email address cmc@colmotor.co.nz
Date of release through MAP

18 February 2021

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 Quarterly
Half Year X Special
DRP applies
Record date Close of trading on: 19 March 2021
Ex-Date 18 March 2021
Payment date 29 March 2021
Total monies associated with the distribution $4,904,194.80
Source of distribution Retained earnings
Currency NZ dollars
Section 2: distribution amounts
Gross distribution $0.20833333
Gross taxable amount $0.20833333
Total cash distribution $0.15000000
Excluded amount (applicable to listed PIEs) $0.00000000
Supplementary distribution amount $0.02647059
Section 3:
Is the distribution imputed Fully imputed
Imputation rate applied 28.0%
Imputation tax credits per financial product $0.05833333
Resident withhold tax amount per financial product $0.01041667
Section 4: distribution re-investment plan – not applicable
Section 5: authority for this announcement
Name of person authorised to make this
announcement Jack Tuohy, Company Secretary
Contact person for this announcement Jim Gibbons, Chairman
Contact phone number 04 384 9734
Contact email address cmc@colmotor.co.nz
Date of release via MAP 18 February 2021