The Colonial Motor Company (CMO) H1 2025 earnings summary

Executive summary

• Trading profit after tax for the six months ended 31 December 2024 was $6.9m, down 23.8% year-over-year but ahead of internal expectations due to a strong December and cost management.

• Interim dividend maintained at 15 cents per share, fully imputed, with payment scheduled for 31 March 2025.

• Market conditions remain subdued, with recessionary impacts affecting demand for new light vehicles and heavy trucks; used vehicle focus and cost control supported results.

Financial highlights

• Total revenue for the half year was $507.9m, up from $494.9m in the prior year period.

• Trading profit after tax was $6.9m, compared to $9.1m for the same period last year.

• Basic and diluted EPS was 21.2 cents, down from 28.3 cents year-over-year.

• Net tangible assets per share stood at $9.07, slightly down from $9.24 a year ago.

• Total comprehensive income for the period was $8.3m, up from $6.4m in the prior year due to positive cash flow hedge reserve movement.

Outlook and guidance

• No significant improvement in market sentiment expected; January new vehicle registrations were 14% lower than January 2024.

• Focus remains on cost reduction, efficiency, and revitalized used vehicle operations to compete in a challenging market.