Colonial Motor Co shares climb to month-high after profit upgrade

Mon, 04 Jul 2016

By Paul McBeth July 5 (BusinessDesk) - Colonial Motor Co shares rose to the highest in a month after the listed motor vehicle distributor said it expects to post a record profit in 2016. The shares rose 1.6 percent to $6.30 after the Wellington-based company said strong sales of Ford and Mazda vehicles in the year would push trading profit to a "record result" in the 12 months ending June 30, beating the $16.3 million it posted in 2015 and its previous record of $19.3 million a year earlier. "The new vehicle industry in which we oper...

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