AGM Soon - News, page-2

From nabtrade..Motorcycle Holdings (MOT)The country’s biggest motorbike dealer chain attests to what the Federal Chamber of Automotive Industries dubs the “simply remarkable” performance of the sector during the pandemic.In the September quarter, overall bike sales roared up 30% as easy riders got back in the saddle as soon as restrictions were eased around May.Volume has been oriented to off-road and all-terrain vehicles (ATVs), which suggests that riding has become a family activity.Another potential reason for the buoyant sales is that from next year ATVs will require rollover protection, which means the leading brands could exit the market rather than meet the requirement.Then there’s Victoria’s protracted incarceration.Six of Motorcycle Holdings’ 31 dealerships are in the delinquent state and the company expected revenue to drop to nil while the restrictions remained in place (for an expected nine weeks).Instead, sales were at 50% of normal levels, which is amazing given buyers can’t caress the throttles in the show room.The company also maintained sales during the national lockdown period, with June half sales up 35%.Broker Moelis factors in an underlying net profit of $18.7 million for the year to June 2021, 20% higher than previously.The firm also pencils in an 11.5 cent fully-year dividend, equating to a yield of just under 5%.On yer bikes!