I don't think ARB is heavily involved in selling directly to mining companies or contractors or has significant contracts. Where the mining slow down does affect ARB is money taken out of the local mining economy - job losses, contractors jobs not renewed, wages reductions. As stated in the the Chairman's address, the growth in QLD, SA & WA was subdued due to the mining slowdown.
But one of the advantages of ARB is that they don't have all their eggs in one basket. Mining might be down, but they are not reliant on it. There are farmers (beef, sheet, wheat, cane, etc), retirees, recreational off roaders, etc, etc that all buy their product.
I think the Chairman's address was pretty detailed. Their R&D and product pipeline is strong with new and innovative products coming on to the market. With the growing of export sales and strong Australian sales the future looks pretty good. Their half year update will be interesting.
ARB Price at posting:
$15.20 Sentiment: Hold Disclosure: Held
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