Colonial Motor Co's 1H result steady despite increased new vehicle sales

Tue, 17 Feb 2015

By Fiona Rotherham Feb. 17 (BusinessDesk) - The Colonial Motor Co, the listed motor vehicle distributor, posted a 0.8 percent increase in first-half net profit despite increased industry sales, due to competition biting into margins. Net profit rose to $12.9 million in the six months ending Dec. 31, from $12.8 million in the previous corresponding period, the Wellington-based company said in a statement. Revenue at $410 million, including the contribution from Jeff Gray BMW, was up 15 percent on the same period last year while trading...

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