The combination of a strong trading profit from its heavy truck business and car dealerships together have led to record results for the Colonial Motor Company CMC)
At the company’s recent annual general meting chairman Jim Gibbons detailed CMC’s profit after tax of $11.8 million to the year June 2012, up 42% on the previous year.
DAF Trucks saw significant growth following major product improvements including class leading Euro 5 emission compatibility, and now a favourable exchange rate as the value of the Euro has fallen.
In other developments a $2.5 million investment in a new Southpac workshop in Wiri (pictured above) has nearly been completed, enabling the distributor to have its sales and servicing at one site.
Gibbons gave a subdued outlook for the next financial year, with sales and profitability trending down in September and early October. “The year has started well but there are headwinds. There are no fresh new products coming on stream this half year, and none until the end of the first quarter in 2013,” he says.
“Many economists are predicting a low growth economy next year. With that said, we have strong and stable management, able to adapt very well to market changes.”
