2 Cheap building momentum

2 Cheap Cars Group is predicting a full-year net profit after tax (NPAT) of more than $3 million after reporting an improved trading performance in recent months.

The company says business momentum has built up through the latter part of the third quarter and into the early fourth quarter of the 2026 financial year. 

Michael Stiassny, chairman, adds: “This has been underpinned by better vehicle margins and robust finance and insurance penetration rates, reflecting the group’s continued focus on operational excellence and customer value. 

“The recent government adjustments to carbon credit rates under the clean car standard are further bolstering margins. 

“As inventory accepted under the new settings is sold, these benefits are set to continue, delivering an uplift in margins through the fourth quarter of FY26.”

As a result of this improving performance, 2 Cheap Cars now anticipates its second-half NPAT to reach or exceed $2m and the full-year figure to be at least $3m. 

Its January 15 announcement to the NZX notes these forecasts remain subject to final audit and standard year-end adjustments. 

The group delivered NPAT of $3.3m in the 2025 financial year, which was down 46.8 per cent from $6.2m in 2024.

Stiassny says: “While the board maintains a prudent stance on the broader economic environment, the group’s recent profitability gains provide momentum as FY26 concludes.”