solid result, with excellent cash flow growth the highlight for me (despite strong adverse increase in trade receivables - nothing untoward based on ageing increase).
But it was also interesting (to me at least) to compare ARB's sales growth of late. In May I did this table during a discussion about ARB's growth rates (https://hotcopper.com.au/posts/24482529/single)- and my desire to see faster growth. I've updated the table for the most recent results.
Column 1
Column 2
Column 3
Column 4
Column 5
0
FY2016 vs FY2015 (12 months)
1H FY 2017 v1H FY 2016 (6 months)
Q3 FY2017 v Q3 2016 (3 months)
FY2017 vs FY2016 (12 months)
1
Aust aftermarket
6.2%
5.2%
5.8%
4.6%
2
Exports
12.6%
12.1%
10.8%
14.3%
3
OEM
12.2%
-1.5%
-5.7%
5.3%
4
Total
8.2%
6.2%
6.2%
7.2%
For those like me who wanted to see exports growing - as this is key to ARB growing faster - Q4 was very good news. Q4 saw fast export growth
but the growth rate in Australia aftermarket (66% of sales) slowed further.
ARB Price at posting:
$15.71 Sentiment: Hold Disclosure: Held
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