ARB Corp

ARB Corporation has reported sales growth of 9.6% for the 9 months to the end of March, and said that its current order book is satisfactory and that it expect the final 3 months of the 2013 financial ‘to remain solid’ despite the mining downturn. As we noted at the half-year result on 21 Feb 13 (Hold – $12.39), though, the shares are ‘priced for near-perfection’ and the market didn’t like it, sending the price down around 7%. Sales were up 16% in the Australian aftermarket business, ARB’s largest division, which accounted for 69% of total sales. The increase...

ARB Corporation has reported sales growth of 9.6% for the 9 months to the end of March, and said that its current order book is satisfactory and that it expect the final 3 months of the 2013 financial ‘to remain solid’ despite the mining downturn.

As we noted at the half-year result on 21 Feb 13 (Hold – $12.39), though, the shares are ‘priced for near-perfection’ and the market didn’t like it, sending the price down around 7%.

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