ARB Corporation Ltd (ASX:ARB), the manufacturer of 4WD accessories, has announced its after tax net profit rose 7.6% to $47.4 million.
The company says its profit was hampered by increases in product development and manufacturing costs. This was related to a large number of new products released by ARB over the year – such as new bull bars, fuel tanks, and shock absorbers.
The company’s sales revenue rose 8.2% to $356.9 million. Two-thirds of that was from Australian aftermarket, one-quarter from exports, and 7.8% from Original Equipment sales.
ARB declared a final dividend of 17 cents per share, fully franked (which up 1 cent from FY15). Its total dividend for the last financial year is 31.5 cents, which is an increase of 8.6%.
As for its outlook this financial year, the company says it will open 4 new ARB stores in Australia, and strengthen its distribution in the US, Central America and South America.