ARB (ASX:ARB) announces 7.4% decline in net profit
ARB (ASX:ARB) expects to report a reduction in net profit after tax of around 7.4 per cent.
The company says the results reflect the significant strengthening of the Thai baht which has caused an increase in the Company’s costs on a range of products manufactured in ARB’s Thai factories.
The lower profit comes despite revenue growth of $234 million, a 7.1 per cent increase over the previous corresponding period.
The 4 x 4 accessory company is scheduled to report its audited, half-year results on February 18.
Shares in ARB (ASX:ARB) are trading 2.54 per cent lower at $18.05.
Copyright 2020 – Finance News Network
Source: Finance News Network
