EXTRACT FROM PETER WARREN ATUOMOTIVE ASX RELEASE:
CONFERENCE CALL AT 12.00PM FOR THOSE INTERESTED.
Trading Update and Outlook Onto our trading outlook for the remainder of this calendar year.
In our update in August 2021, we indicated that trading in July and August had been impacted by lockdowns in New South Wales and, to a lesser extent, Queensland.
We also outlined the supply of new vehicles remained uncertain with varied constraints across our OEM partners.
These factors have remained, with our Sydney showrooms being closed throughout the period until very recently, and similar restrictions have been imposed upon our Northern NSW locations.
Our performance in the first quarter has however been pleasing with:
• Stronger than expected results from our QLD business
• Demand in both NSW and QLD remaining strong, with our order bank at the end of September improving on the June 2021 position • Our NSW showrooms are now re-opened as of mid-October, and despite having ongoing staffing restrictions, customer activity has been encouraging and better than anticipated
• Uncertainty surrounding the supply of vehicles remains however, with varied constraints across our OEM partners continuing and evolving on a weekly basis.
Peter Warren Automotive Holdings Limited ACN 615 674 185 We have as a result of these and related factors, re-modelled our expected outcomes for the forecast period through to 31 December 2021.
We had previously maintained our Prospectus forecast of $28.0 million for this period.
We now anticipate the Pro forma Net Profit Before Tax for H1FY22F to be in the range of $32 million and $34 million.
This assumes no further lockdowns and no further supply chain disruptions.
Pleasingly this would bring our Calendar Year performance for 2021 to be in the range of $80.8m to $82.8m, which is a 75% to 80% improvement on our Prospectus, reflecting again a successful first period post listing.
