PBT up 35.8% and operating cash doubles on a NZ$29.5m inventory drawdown
Headline NPAT growth of 54.8% is flattered by a lower tax rate, and the cash step-up leans heavily on working-capital release.
Published 22 April 2026
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Headline NPAT growth of 54.8% is flattered by a lower tax rate, and the cash step-up leans heavily on working-capital release.
Published 22 April 2026
Read briefingUnderlying earnings barely moved on a 1.1% revenue decline; the headline NPAT jump reflects a depressed prior-year base, not operating improvement.
Published 22 April 2026
Read briefingMargin compression and a higher effective tax rate cut NPAT 25.3% to $6.9m, even as destocking produced a sharp operating cash turnaround.
Published 22 April 2026
Read briefingA $13.3m drag between ordinary-activities profit and NPAT, a 21% inventory build and an 81% jump in borrowings overwhelm the 1.6% top-line gain.
Published 22 April 2026
Read briefingColonial Motor held the 15cps interim but earnings, cash and leverage all weakened against a flagged "very strong" prior comparator.
Published 22 April 2026
Read briefingFlat revenue and a modest PBT decline mask a sharp balance-sheet shift, with inventory days up 25 and the final dividend cut 10.6%.
Published 22 April 2026
Read briefingTrading profit is still the second-highest on record, but a 16% inventory build drove a 34x deterioration in operating cash flow versus HY22.
Published 22 April 2026
Read briefingA record result delivered on shrinking stock and a weaker second half leaves the durability of earnings an open question.
Published 22 April 2026
Read briefingTrading profit hit a first-half high as margin widened, yet a 30.6% inventory build absorbed cash and drove net debt near NZ$95.7m.
Published 22 April 2026
Read briefingTrading recovery is real, yet a NZ$35.3m drop in operating cash and a normalised tax charge complicate the read on headline NPAT.
Published 21 April 2026
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