Importer reports profits boost
2 Cheap Cars says it has made $600,000 in net profit after tax (NPAT) over the two months of its current fiscal year.
It provided an update on its recent trading performance on June 19. As outlined in the company’s financial year 2026 results announcement of May 29, trading momentum improved materially through the second half.
That was driven by stronger vehicle margins, improved procurement conditions, disciplined cost control and robust finance and insurance penetration rates. This momentum has continued into the early part of 2026/27.
The company recorded NPAT of about $600,000 in March, the final month of 2025/26. Unaudited management accounts for April and May this year also each show NPAT of around $600,000. Trading through the first half of June “has remained positive”.
The board considers this recent performance “encouraging”, particularly when compared with NPAT of $3.2 million for the full year to March 31.
However, the board notes the current trading reflects a short period and may not be representative of the rest of 2026/27. The company is not providing earnings guidance for financial year 2027 at this time.
Chairman Michael Stiassny, pictured, says the recent trading performance reflects the group’s focus on disciplined inventory management, procurement quality, finance and insurance execution, and operating cost control.
“Recent trading has been encouraging, with the business entering financial year 2027 with positive momentum,” he adds.
“The board believes it is appropriate to update the market on the company’s current trading position. However, it is too early to extrapolate this performance across the full financial year.
“The operating environment remains unpredictable, and our focus is on maintaining disciplined execution and protecting margins.”
The monthly NPAT figures referred to in the company’s latest announcement of June 19 are based on management accounts. The March 2026 figure forms part of the company’s audited 2025/26 result announced on May 29, while the April and May 2026 figures are unaudited. It adds references to June trading are based on information available to date.
