The Colonial Motor Company Limited has reported a Trading Profit before tax of $20.9m for the six months ended 31 December 2022, the second highest on record.

Total revenue was down 6.5% on the same period last year and the Company is contending with economic uncertainty, cost-of-living crisis and rising interest rates.

Targeted government intervention via the clean vehicle legislation drove demand for electric vehicles and the Board has declared a fully imputed interim dividend of 15 cents per share.

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