ARB Corp: Interim result 2014

Booming exports have helped ARB Corp overcome a weak result at home due to the mining slowdown.

As flagged at its AGM last October (see ARB hit by mining slowdown on 21 Oct 13 (Hold – $11.38)), ARB Corporation’s first-half revenues were held back by a near-halving of sales to original equipment manufacturers (‘OEMs’ – ie the big car companies) largely due to the mining slowdown.

Total revenue rose 1% to $149m, from which the company made a net profit of $20.1m and earnings per share (EPS) of 27.8 cents, each down 4%. The company will pay an interim dividend of 13 cents per share (fully franked, ex date 28 Mar), up 4%.

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