Preliminary result and 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 2021
Previous Reporting Period 12 months to 30 June 2020
Amount (000s) Percentage change
Revenue from ordinary
activities
$ 901,173 +19.4%
Profit from ordinary activities
after tax attributable to
security holder
$ 27,924 +61.0%
Net profit attributable to
security holders
$ 24,833 +13.8%
Final Dividend
Amount per Quoted Equity
Security
NZD $0.400000
Imputed amount per Quoted
Equity Security
NZD $0.155555
Record Date 24 September 2021
Dividend Payment Date 04 October 2021
Net tangible assets per
Quoted Equity Security
2021 2020
$ 8.00 $ 6.92
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 report.
Authority for this announcement
Name of person

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

13 August 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 X Quarterly
Half Year Special
DRP applies
Record date Close of trading on: 24 September 2021
Ex-Date 23 September 2021
Payment date 04 October 2021
Total monies associated with the distribution $13,077,852.80
Source of distribution Retained earnings
Currency NZ dollars
Section 2: distribution amounts
Gross distribution $0.55555556
Gross taxable amount $0.55555556
Total cash distribution $0.40000000
Excluded amount (applicable to listed PIEs) $0.00000000
Supplementary distribution amount $0.07058824
Section 3:
Is the distribution imputed Fully imputed
Imputation rate applied 28.0%
Imputation tax credits per financial product $0.15555556
Resident withhold tax amount per financial product $0.02777778
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 / 027 495 3616
Contact email address cmc@colmotor.co.nz
Date of release via MAP 13 August 2021

---

13 August 2021


Dear Shareholder

• Trading Profit after Tax at $27.9m, up 61% on last year
• Total Dividends for the year 55 cps, up 23 cps on last
year
Trading conditions
Trading Profit after Tax was a record high $27.9m, up 61% on last
year and up 13% on 2018, the previous best year.
Demand for all new vehicles has been very strong. Supply to meet
this demand has been variable, arrivals are often late and lumpy,
sometimes significantly so. However, when looked at on a longer
year to date basis, supply has grown to meet the demand. Total
new registrations for the first six months of this calendar year were
a record 84,598 vehicles. All areas of the business, car
dealerships, heavy trucks and tractors performed well. Total
Comprehensive Income was impacted by the material $25.2m
increase in the property revaluation reserve.
The supply of electric vehicles from our franchisors is small but
growing; Ford has launched a plug in hybrid Escape and a plug in
hybrid Transit Custom, and Mazda a fully electric MX30.
Developments
The new branch facility for Southern Autos Manukau Limited,
representing Suzuki and Isuzu, has opened in Botany, Auckland.
The major developments, at Christchurch for Team Hutchinson
Ford and the Lower Hutt Ford and Mazda hub for Capital City
Motors, are nearing completion.
A property has been purchased in Rotorua to be developed into a
truck parts and service facility for Southpac Trucks. Kenworth
continues to be the preferred brand in the logging industry.
Dividend
The Directors have declared a fully imputed dividend of 40 cps to
be paid on Monday, 4 October 2021, with a record date of
24 September. This takes the total dividend for the financial year
to 55 cps, 64% of the Trading Profit after Tax.
Annual Report
The 2021 Annual Report will be published in late September. It
will include the notice for the 103
rd
Annual General Meeting to be
held at midday on Friday, 5 November at the Harbourside Function
Venue, 4 Taranaki Street, Wellington.
Outlook
The current favourable trading conditions with strong demand for
new vehicles, constrained by supply difficulties, is expected to
continue for the immediate future. In the medium term the planned
new vehicle taxes will change the pricing relativity of vehicles, but
the deeper driver of ongoing demand will be the strength of the
economy and consumer confidence.

Succession
The Chairman of the Company, Jim Gibbons, will be retiring at the
conclusion of the AGM in November. The Directors have appointed
Ash Waugh to the board position of Chair Elect and the Directors have
appointed Gillian Watson as an additional director with effect from 1
September 2021. She will stand for election by the shareholders at the
AGM in November.

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

STATEMENT OF CASH FLOWS
For the year ended 30 June 2021


2021 2020

$’000 $’000


Net Cash Flows from:
Operating Activities 28,890 64,221
Investing Activities (22,916) (13,244)
Financing Activities (8,233) (41,164)
Net (Decrease)/Increase
in Cash Held (2,259) 9,813
Opening Cash Balance 16,995 7,182
Closing Cash Balance 14,736 16,995


Cash Flow Reconciliation

Profit for the Year 26,413 23,083
Adjustment for Non Cash Items
9,413 1,915
Movement in Working Capital
(6,936) 39,223
Net Cash Flow from
Operating Activities
28,890 64,221











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

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














13 August 2021


Dear Shareholder

• Trading Profit after Tax at $27.9m, up 61% on last year
• Total Dividends for the year 55 cps, up 23 cps on last
year
Trading conditions
Trading Profit after Tax was a record high $27.9m, up 61% on last
year and up 13% on 2018, the previous best year.
Demand for all new vehicles has been very strong. Supply to meet
this demand has been variable, arrivals are often late and lumpy,
sometimes significantly so. However, when looked at on a longer
year to date basis, supply has grown to meet the demand. Total
new registrations for the first six months of this calendar year were
a record 84,598 vehicles. All areas of the business, car
dealerships, heavy trucks and tractors performed well. Total
Comprehensive Income was impacted by the material $25.2m
increase in the property revaluation reserve.
The supply of electric vehicles from our franchisors is small but
growing; Ford has launched a plug in hybrid Escape and a plug in
hybrid Transit Custom, and Mazda a fully electric MX30.
Developments
The new branch facility for Southern Autos Manukau Limited,
representing Suzuki and Isuzu, has opened in Botany, Auckland.
The major developments, at Christchurch for Team Hutchinson
Ford and the Lower Hutt Ford and Mazda hub for Capital City
Motors, are nearing completion.
A property has been purchased in Rotorua to be developed into a
truck parts and service facility for Southpac Trucks. Kenworth
continues to be the preferred brand in the logging industry.
Dividend
The Directors have declared a fully imputed dividend of 40 cps to
be paid on Monday, 4 October 2021, with a record date of
24 September. This takes the total dividend for the financial year
to 55 cps, 64% of the Trading Profit after Tax.
Annual Report
The 2021 Annual Report will be published in late September. It
will include the notice for the 103
rd
Annual General Meeting to be
held at midday on Friday, 5 November at the Harbourside Function
Venue, 4 Taranaki Street, Wellington.
Outlook
The current favourable trading conditions with strong demand for
new vehicles, constrained by supply difficulties, is expected to
continue for the immediate future. In the medium term the planned
new vehicle taxes will change the pricing relativity of vehicles, but
the deeper driver of ongoing demand will be the strength of the
economy and consumer confidence.

Succession
The Chairman of the Company, Jim Gibbons, will be retiring at the
conclusion of the AGM in November. The Directors have appointed
Ash Waugh to the board position of Chair Elect and the Directors have
appointed Gillian Watson as an additional director with effect from 1
September 2021. She will stand for election by the shareholders at the
AGM in November.

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

STATEMENT OF CASH FLOWS
For the year ended 30 June 2021


2021 2020

$’000 $’000


Net Cash Flows from:
Operating Activities 28,890 64,221
Investing Activities (22,916) (13,244)
Financing Activities (8,233) (41,164)
Net (Decrease)/Increase
in Cash Held (2,259) 9,813
Opening Cash Balance 16,995 7,182
Closing Cash Balance 14,736 16,995


Cash Flow Reconciliation

Profit for the Year 26,413 23,083
Adjustment for Non Cash Items
9,413 1,915
Movement in Working Capital
(6,936) 39,223
Net Cash Flow from
Operating Activities
28,890 64,221











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

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










For the year
ended
30 June 2021

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
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
E-mail address cmc@colmotor.co.nz
www.colmotor.co.nz

STATEMENT OF PROFIT OR LOSS
For the year ended 30 June 2021
2021 2020
$’000 $’000

Revenue
Products 828,119 679,759
Services 70,392 66,200
Other Income 2,662 8,963
Total Revenue 901,173 754,922

Less Expenses
Cost of Products Sold 734,905 609,316
Remuneration of Staff 83,442 76,118
Depreciation &
Amortisation
6,785 6,289
Interest 3,025 4,600
Other 32,334 31,988
Trading Profit before Tax 40,682 26,611
Less Taxation
Current 11,638 7,879
Deferred (460) 128
29,504 18,604
Less Non Controlling Interest 1,580 1,255
Trading Profit after Tax 27,924 17,349
Property – Fair Value Movement
(3,445) (2,040)
Deferred Tax Movement 184 6,576
Investment – Fair Value Movement 170 (57)
Profit after Tax 24,833 21,828
Profit for the year attributable to:
Shareholders 24,833 21,828
Non Controlling Interest 1,580 1,255
PROFIT FOR THE YEAR 26,413 23,083




STATEMENT OF COMPREHENSIVE INCOME
For the year ended 30 June 2021

2021 2020

$’000 $’000



Profit for the year 26,413 23,083
Other comprehensive income
Items that will not be reclassified
subsequently to profit or loss:
Property revaluation reserve
Change in fair value 25,166 6,476
Deferred tax movement 1,089 515
Items that may be classified subsequently
to profit or loss:

Foreign exchange hedging reserve
Change in fair value (962) 785
Deferred tax movement 269 (220)
Total comprehensive income 51,975 30,639
Attributable to:
Shareholders 50,499 29,299
Non Controlling Interest 1,476 1,340

51,975 30,639


2021 2020
Basic & Diluted Earnings per Share on
- Profit attributable to shareholders 76.0c 66.8c
- Trading Profit after Tax 85.4c 53.1c
Dividend per Share 55.0c 32.0c
Net Tangible Assets per Share $8.00 $6.92




STATEMENT OF CHANGES IN EQUITY
For the year ended 30 June 2021

2021 2020
$’000 $’000


Equity at beginning of year 230,800 210,944
Total comprehensive income 51,975 30,639
Dividends paid to Shareholders (15,366) (9,808)
Dividend paid to Non Controlling Interest (1,575) (975)
Equity at end of year 265,834 230,800

BALANCE SHEET
As at 30 June 2021
2021 2020
$’000 $’000


Liabilities

Bank Borrowings 12,197 19,235
At Call Deposits 32,304 27,388
Vehicle Floorplan Finance 55,866 42,851
Credit Contracts 1,142 1,404
Other Current Liabilities 63,129 47,000
Total Current Liabilities 164,638 137,878
Non Current Liabilities
Lease Liabilities 15,607 13,175
Credit Contracts
1,666 2,379
Total Non Current Liabilities 17,273 15,554
Shareholders’ Equity 262,443 227,310
Non Controlling Interest 3,391 3,490
Total Equity 265,834 230,800
Total Equity and Liabilities 447,745 384,232

Assets
Inventory 163,378 139,291
Cash & Bank 14,736 16,995
Credit Contracts 1,121 1,379
Other Current Assets 45,152 42,857
Total Current Assets 224,387 200,522

Non Current Assets
Property, Plant & Equipment 212,444 174,246
Credit Contracts 1,666 2,379
Other Non Current Assets 9,248 7,085
Total Non Current Assets 223,358 183,710

Total Assets 447,745 384,232


These summary consolidated Financial Statements have
not been audited.



STATEMENT OF PROFIT OR LOSS
For the year ended 30 June 2021
2021 2020
$’000 $’000

Revenue
Products 828,119 679,759
Services 70,392 66,200
Other Income 2,662 8,963
Total Revenue 901,173 754,922

Less Expenses
Cost of Products Sold 734,905 609,316
Remuneration of Staff 83,442 76,118
Depreciation &
Amortisation
6,785 6,289
Interest 3,025 4,600
Other 32,334 31,988
Trading Profit before Tax 40,682 26,611
Less Taxation
Current 11,638 7,879
Deferred (460) 128
29,504 18,604
Less Non Controlling Interest 1,580 1,255
Trading Profit after Tax 27,924 17,349
Property – Fair Value Movement
(3,445) (2,040)
Deferred Tax Movement 184 6,576
Investment – Fair Value Movement 170 (57)
Profit after Tax 24,833 21,828
Profit for the year attributable to:
Shareholders 24,833 21,828
Non Controlling Interest 1,580 1,255
PROFIT FOR THE YEAR 26,413 23,083




STATEMENT OF COMPREHENSIVE INCOME
For the year ended 30 June 2021

2021 2020

$’000 $’000



Profit for the year 26,413 23,083
Other comprehensive income
Items that will not be reclassified
subsequently to profit or loss:
Property revaluation reserve
Change in fair value 25,166 6,476
Deferred tax movement 1,089 515
Items that may be classified subsequently
to profit or loss:

Foreign exchange hedging reserve
Change in fair value (962) 785
Deferred tax movement 269 (220)
Total comprehensive income 51,975 30,639
Attributable to:
Shareholders 50,499 29,299
Non Controlling Interest 1,476 1,340

51,975 30,639


2021 2020
Basic & Diluted Earnings per Share on
- Profit attributable to shareholders 76.0c 66.8c
- Trading Profit after Tax 85.4c 53.1c
Dividend per Share 55.0c 32.0c
Net Tangible Assets per Share $8.00 $6.92




STATEMENT OF CHANGES IN EQUITY
For the year ended 30 June 2021

2021 2020
$’000 $’000


Equity at beginning of year 230,800 210,944
Total comprehensive income 51,975 30,639
Dividends paid to Shareholders (15,366) (9,808)
Dividend paid to Non Controlling Interest (1,575) (975)
Equity at end of year 265,834 230,800

BALANCE SHEET
As at 30 June 2021
2021 2020
$’000 $’000


Liabilities

Bank Borrowings 12,197 19,235
At Call Deposits 32,304 27,388
Vehicle Floorplan Finance 55,866 42,851
Credit Contracts 1,142 1,404
Other Current Liabilities 63,129 47,000
Total Current Liabilities 164,638 137,878
Non Current Liabilities
Lease Liabilities 15,607 13,175
Credit Contracts
1,666 2,379
Total Non Current Liabilities 17,273 15,554
Shareholders’ Equity 262,443 227,310
Non Controlling Interest 3,391 3,490
Total Equity 265,834 230,800
Total Equity and Liabilities 447,745 384,232

Assets
Inventory 163,378 139,291
Cash & Bank 14,736 16,995
Credit Contracts 1,121 1,379
Other Current Assets 45,152 42,857
Total Current Assets 224,387 200,522

Non Current Assets
Property, Plant & Equipment 212,444 174,246
Credit Contracts 1,666 2,379
Other Non Current Assets 9,248 7,085
Total Non Current Assets 223,358 183,710

Total Assets 447,745 384,232


These summary consolidated Financial Statements have
not been audited.



STATEMENT OF PROFIT OR LOSS
For the year ended 30 June 2021
2021 2020
$’000 $’000

Revenue
Products 828,119 679,759
Services 70,392 66,200
Other Income 2,662 8,963
Total Revenue 901,173 754,922

Less Expenses
Cost of Products Sold 734,905 609,316
Remuneration of Staff 83,442 76,118
Depreciation &
Amortisation
6,785 6,289
Interest 3,025 4,600
Other 32,334 31,988
Trading Profit before Tax 40,682 26,611
Less Taxation
Current 11,638 7,879
Deferred (460) 128
29,504 18,604
Less Non Controlling Interest 1,580 1,255
Trading Profit after Tax 27,924 17,349
Property – Fair Value Movement
(3,445) (2,040)
Deferred Tax Movement 184 6,576
Investment – Fair Value Movement 170 (57)
Profit after Tax 24,833 21,828
Profit for the year attributable to:
Shareholders 24,833 21,828
Non Controlling Interest 1,580 1,255
PROFIT FOR THE YEAR 26,413 23,083




STATEMENT OF COMPREHENSIVE INCOME
For the year ended 30 June 2021

2021 2020

$’000 $’000



Profit for the year 26,413 23,083
Other comprehensive income
Items that will not be reclassified
subsequently to profit or loss:
Property revaluation reserve
Change in fair value 25,166 6,476
Deferred tax movement 1,089 515
Items that may be classified subsequently
to profit or loss:

Foreign exchange hedging reserve
Change in fair value (962) 785
Deferred tax movement 269 (220)
Total comprehensive income 51,975 30,639
Attributable to:
Shareholders 50,499 29,299
Non Controlling Interest 1,476 1,340

51,975 30,639


2021 2020
Basic & Diluted Earnings per Share on
- Profit attributable to shareholders 76.0c 66.8c
- Trading Profit after Tax 85.4c 53.1c
Dividend per Share 55.0c 32.0c
Net Tangible Assets per Share $8.00 $6.92




STATEMENT OF CHANGES IN EQUITY
For the year ended 30 June 2021

2021 2020
$’000 $’000


Equity at beginning of year 230,800 210,944
Total comprehensive income 51,975 30,639
Dividends paid to Shareholders (15,366) (9,808)
Dividend paid to Non Controlling Interest (1,575) (975)
Equity at end of year 265,834 230,800

BALANCE SHEET
As at 30 June 2021
2021 2020
$’000 $’000


Liabilities

Bank Borrowings 12,197 19,235
At Call Deposits 32,304 27,388
Vehicle Floorplan Finance 55,866 42,851
Credit Contracts 1,142 1,404
Other Current Liabilities 63,129 47,000
Total Current Liabilities 164,638 137,878
Non Current Liabilities
Lease Liabilities 15,607 13,175
Credit Contracts
1,666 2,379
Total Non Current Liabilities 17,273 15,554
Shareholders’ Equity 262,443 227,310
Non Controlling Interest 3,391 3,490
Total Equity 265,834 230,800
Total Equity and Liabilities 447,745 384,232

Assets
Inventory 163,378 139,291
Cash & Bank 14,736 16,995
Credit Contracts 1,121 1,379
Other Current Assets 45,152 42,857
Total Current Assets 224,387 200,522

Non Current Assets
Property, Plant & Equipment 212,444 174,246
Credit Contracts 1,666 2,379
Other Non Current Assets 9,248 7,085
Total Non Current Assets 223,358 183,710

Total Assets 447,745 384,232


These summary consolidated Financial Statements have
not been audited.