NZ Automotive Investments Limited (NZAI) has reported improved underlying earnings for FY23, largely driven by significant increases in the last quarter to 31 March 2023.
Revenue and income increased 25% to $82.7m and underlying EBITDA including finance income increased 26% to $6.0m.
Underlying NPAT increased 18% to $2.0m and vehicle sales were up 6% to 8,367.
The Company has appointed UHY Haines Norton Sydney as its new auditors and agreed a replacement trade finance facility for $5.0m with partner Finance Now.
No final dividend will be paid, however the Company anticipates recommencing dividend payments in HY24.
See more
