CMO - Colonial Motor Company

[Lifestyle]

I am guessing we will be getting the interim result this Friday 18/2. For the record I am estimating $15.3m net profit after minority interests.

[Sideshow Bob]

Half Year Result to 31 December 2021 - NZX, New Zealand’s Exchange

NPAT $18m, up 42%....!!

[nztx]

A quiet performer is CMO .. hard not to like what is being seen

[winner69]

Obviously ‘solid’ can mean a few different things

GUIDANCE UPDATE
At the 2022 Annual Meeting we advised that the forecast half year result to 31 December 2022, while tracking behind last year's record, was anticipated to be a solid result. The Group remains on track to deliver a solid result although it will be materially behind last year, but ahead of the $18.2m December 2020 half year result.

So Profit before tax somewhere between $18.2m (dec 2020) and $26.5m (last year)

I guess $20m

But they already know as half year only days away from ending

[nztx]

Obviously ‘solid’ can mean a few different things

GUIDANCE UPDATE
At the 2022 Annual Meeting we advised that the forecast half year result to 31 December 2022, while tracking behind last year's record, was anticipated to be a solid result. The Group remains on track to deliver a solid result although it will be materially behind last year, but ahead of the $18.2m December 2020 half year result.

So Profit before tax somewhere between $18.2m (dec 2020) and $26.5m (last year)

I guess $20m

But they already know as half year only days away from ending

Sounds & will look pretty solid ..... compared with NZA

[Sideshow Bob]

Profit down a bit but a "strong result in tightening conditions"

https://www.nzx.com/announcements/416794

[winner69]

Shareholders Association bit miffed with Colonial

Seems not happy with their climate disclosures along with other things

Hope they are not getting too excited about ESG matters

‘Not personal’: NZSA to vote against Colonial Motor Company’s proposed resolutions at AGM

https://businessdesk.co.nz/article/m...lutions-at-agm

[Oliver Mander]

Shareholders Association bit miffed with Colonial

Seems not happy with their climate disclosures along with other things

Hope they are not getting too excited about ESG matters

‘Not personal’: NZSA to vote against Colonial Motor Company’s proposed resolutions at AGM


https://businessdesk.co.nz/article/m...lutions-at-agm

"among other things"
Indeed an important element of your post. We are concerned generally at the level of disclosure that CMO offers - including around issues like Board composition and skills, the lack of consistent disclosure of the director fee pool (although they are in this year's Notice of Meeting thanks to a resolution to increase fees), the lack of supporting evidence provided to support a resolution to increase director fees, the lack of disclosure associated with CEO remuneration and some concvern about succession management processes as regards the Board (again, no disclosure). There is also limited disclosure around risks and mitigations - and yes, that includes environmental risks.

In terms of whether you support the climate-related diclosure regime or not, it actually doesn't matter. It is a law, and CMO is required to comply with it from next year. There is limited assurance provided to shareholders or investors that they will be able to comply, other than a half a sentence saying that they will comply with requirements in FY24. That provides scant assurance - it is not an easy process.

Over the last three years, we've worked constructively to improve disclosure amongst listed companies - with evidenced success. CMO has taken on none of our feedback, and now offers amongst the worst disclosures of any NZX-listed company. We hope the company takes this as a signal to improve it governance disclosures and processes in future - we will offer every encouragement.

Oliver Mander
CEO, NZSA

[nztx]

If memory serves correct there are some old family groups as majors on the register

What proportion is still held by these interests ?

[777]

If memory serves correct there are some old family groups as majors on the register

What proportion is still held by these interests ?

CMO Annual Report is accessible. Work it out for yourself.

I would guess around 60%.