Colonial predicts profit boost

The Colonial Motor Company has announced its half-year profit for the six months to the end of December looks set to increase by 20 per cent from what was achieved a year ago.

This means its trading profit after tax should come in at about $8.3 million, after reaching $6.9m for the same timeframe ending December 31, 2024.

Colonial issued a guidance update to the NZX on December 17 that built on comments made by bosses at its annual meeting in November,

Ash Waugh, chairman, says the company advised those attending the meeting the half-year performance up to that point had been encouraging by starting on a positive note. 

“Regardless, what looked to be an improving market would still need to play out one way or other in the remaining months of the first half of the financial year to December 31,” he adds. 

“While it was then too early to make a prediction or provide an update that carried certainty, the company noted there did appear to be ‘green shoots’ emerging. 

“The trading results for November continued the positive trend and nothing has emerged to counter what will therefore be an improved half-year result when matched with the previous comparative six months to December 31, 2024. 

“Consequently, the trading profit before tax for the six months to December 31, 2025, is anticipated to be at least 20 per cent ahead. 

“It remains to be seen whether the market will continue to improve or merely replicate a better second half to June 30, as happened in 2025.”