Search

ARB shares jump after strong sales report

Shares in 4 x 4 parts maker ARB were one of the strongest performers on the ASX on Monday after jumping almost 8% following a strong trading update.


ARB advised that it achieved unaudited sales revenue of $359 million for the first half, representing growth of 26.5% compared with the prior corresponding half year period.


Based on preliminary management accounts, the company now expects profit before tax for the first half is within the range of $90 million to $92 million.


Management said it maintains a positive outlook based on its strong customer order book and improved inventory levels, notwithstanding continuing COVID-19 challenges, ongoing delays in new vehicle availability and global economic uncertainty.

The company also said it continues to be focused on managing customer expectations, global supply chain pressures and pursuing various market opportunities.


It is expected that final first half results will be released on Tuesday, 22 February 2022.