2CC - 2 Cheap Cars Group

[nztx]

I see they are paying a dividend this month.

Yes - 5.04 cps + Imp Credits = 7.0 cps Gross

XD 8 June & Payable 17 June

http://nzx-prod-s7fsd7f98s.s3-websit...998/347163.pdf

[arekaywhy]

dividend landed...healthy

[nztx]

Not much post-IPO love being shown for NZA either is there ?

similar to HMY MFB & other new IPO listings ..

[arekaywhy]

did they get a bump today because of a glossy presentation?...

https://www.nzx.com/announcements/375191

or does the announcement just make them noticeable?

[Rawz]

I got the sharesies email as well and thought, who the heck would buy into that! especially after they just downgraded earnings.

Additionally I reckon their finance book is full of toxic loans to tier 3 and under consumers.

Not for me. Would rather invest in TRA- the leaders of used car + finance operators

[nztx]

Got the email too - TRA looked better so passed on this one

A fairly deep discount & very short notice of offer time to close IMO

Why do I get the feeling that this sell-down was done in a bit of a hurry ?

[JSwan]

They could’ve done this sell down any time before or when this was first listed, seems sus to me

[winner69]

A bit of a struggle - New Zealand based integrated used automotive group NZ Automotive Investments Limited (NZAI / the Company) (NZX:NZA) advises of lower than expected revenue, as a result of lower car, finance and insurance product sales during the December and early January period.

https://www.nzx.com/announcements/386438

[nztx]

https://www.nzx.com/announcements/389954

FY2022 Market update

On that it looks like Future dividends might be rationed & slightly done like a dinner
until things improve

I'd be surprised to see a buck back on the SP graph for a while

[Sideshow Bob]

NZ Automotive full year results for FY2022 - NZX, New Zealand’s Exchange

Summary:
• Revenue and income of $66.0 million, down $0.1 million from last year
• Actual net profit after tax (NPAT) of $2.6 million down from $3.2 million last year
• Underlying net profit after tax of $1.7 million down from $3.8 million last year
• Net operating cashflow (excluding loan book lending) decreased by $6.8 million
• Underlying earnings per share of 4.0 cps (actual eps 6.0 cps)
• Final gross dividend of 0.88 cents per share bringing full year FY22 gross dividend to 3.1 cps