The Colonial Motor Company Limited (NZX:CMO) has announced their half-year results ending 31 December 2020.
The interim report highlights the Company’s admirable financial results.
- Compared to the previous corresponding period, revenue was up by 4.6%
- Profit after tax for the Company was up 58% on the previous corresponding period. However, this figure is skewed by a poor performance in the six months to 31 December 2019.
- A 15 cents per share dividend is set to be distributed on 29 March.
The report also notes that Colonial Motors expect issues regarding the new Clean Car Import Standard policy announced by the government in January. The supply of cars that meet the standard is already limited. The Company has expressed reservations about being able to attain a share that will fulfil the demand for new vehicles.
On 19 February, at the time of writing, The Colonial Motor shares were trading at $9.00, with no change since market opening today.