ARB's (ASX:ARB) first-half revenue rises 27%

Company News

by Lauren Evans

ARB Corporation (ASX:ARB) reported an increase in revenue in its unaudited preliminary results for the first half of financial year 2022 despite Covid-19 challenges.

The motor vehicle accessories company said sales revenue rose 26.5 per cent from the prior corresponding half-year period to $359 million in the six months ending December 31. ARB said it expects profit before tax to be between $90 and $92 million.

ARB said it maintained a positive outlook based on its strong customer order book and improved inventory levels, notwithstanding continuing Covid-19 challenges, ongoing delays in new vehicle availability and global economic uncertainty.

The company is focused on managing customer expectations, global supply chain pressures and pursuing various market opportunities.

ARB will release its full, first-half results on February 22 next month. 

Shares in ARB Coporation (ASX:ARB) are trading 7.1 per cent higher at $45.81.

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