ARB hit by mining slowdown

Shares in ARB Corporation have fallen about 6% since the company’s warning at last week’s AGM that first-quarter profits would be ‘as much as 10%’ below last year’s levels. The original equipment manufacturer (OEM) sales channel, through which the company sells its products to OEMs (mostly in Australia) for inclusion in new vehicles and which is most sensitive to demand from the mining sector, saw first quarter sales halve. Sales growth to the Australian aftermarket also slowed slightly, ‘primarily in the mining-focused states of Western Australia and Queensland’. That’s the bad news. The good news is that despite the...

Shares in ARB Corporation have fallen about 6% since the company’s warning at last week’s AGM that first-quarter profits would be ‘as much as 10%’ below last year’s levels.

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