ARB (ASX:ARB) expects 7.4% decline in net profit

Company News

by Anna Napoli

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$18.920 -$0.598 -3.06%
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Last Updated: 20/02/2020 3:59 PM

ARB (ASX:ARB) expects to report a reduction in net profit after tax of around 7.4 per cent.

The company says the results reflect the significant strengthening of the Thai baht which has caused an increase in the company’s costs on a range of products manufactured in ARB’s Thai factories.

The lower profit comes despite revenue growth of $234 million, a 7.1 per cent increase over the previous corresponding period.

The 4 x 4 accessory company is scheduled to report its audited, half-year results on February 18.

Shares in ARB (ASX:ARB) are trading 2.54 per cent lower at $18.05.

Anna Napoli

Finance News Network
Anna joined FNN February 2018 and also works with Channel 7 as a freelance producer. Anna has also worked as a lawyer and lecturer. She has also presented news updates for interstate news with Southern Cross Austereo.