You did well with your 2CC investment.
Looks as though FND will serve you well too.
Printable View
With no update I think they must still be on track to achieve their out look.
Outlook
Following the strong finish to the half year, and a pleasing October result with continued strong margins, the Company is increasing FY24 net profit after tax (NPAT) guidance to be above $6.8m, up from between $5.2m and $5.7m as previously communicated in September.
You would hope so Percy, but sometimes companies surprise either way and often its more than should be expected. (ie they must have known earlier that things were up or down yet did not inform the market). I might talk to Oliver Mander at the NZSA about this and continuous disclosure.
EV sales plummet after clean car scheme scrapped
Not surprising but must create a lot of work for companies like 2CC. On their website they are still wasting space talking about the old rules: "Note: Clean Car fee / rebate may also apply".Quote:
Electric vehicles have fallen from one in four new vehicles purchased in 2023 to one in 26 in the first month of this year, after the Government scrapped the Clean Car Discount.
I always expected EV sales to plummet. EV's do not stack up on their own merit. But 2CC also sell ICE cars as far as I can tell and there will always be people looking for EV's in the cheaper end of the market. Possibly 2CC will take a bit of a hit in the short term and hopefully they will be able to transition to selling more traditional vehicles going forward.
"Electric vehicles have fallen from one in four new vehicles purchased in 2023 to one in 26 in the first month of this year, after the Government scrapped the Clean Car Discount."
(I hope I am wrong about the hit in the short term bit)