Preliminary full year result and dividend

Name of listed issuer The Colonial Motor Company Limited Reporting period Year to 30 June 2018 Corresponding reporting period Year to 30 June 2017 This report has been prepared in a manner which complies with New Zealand equivalents to International Financial Reporting Standards and gives a true and fair view of the matters to which the report relates. The report is based on unaudited financial statements. Consolidated Statement of Financial Performance Current year Up/(down) Previous corresponding year $ million % $ million Trading revenue 902.076 5.8 852.860 Total operating revenue 904.034 5.8 854.763 Operating profit 37.841 18.1 32.050 Adjustments to value of property & investments 0.070 (41.2) 0.119 Net profit before tax 37.911 17.8 32.169 Taxation on operating profit 10.819 25.3 8.634 Profit for period 27.092 15.1 23.535 Net profit for period attributable to shareholders 24.985 12.4 22.232 Profit attributable to Minority Interest 2.107 61.7 1.303 Profit for the period 27.092 15.1 23.535 Basic earnings per share (cents per share) 75.7 11.3 68.0 Diluted earnings per share (cents per share) 75.7 11.3 68.0 Net tangible assets per share $5.99 8.9 $5.50 FINAL DIVIDEND Fully-imputed dividend cents per share 35.0 Imputation credit cents per share 13.6 Supplementary dividend (where applicable) cents per share 6.2 Payment date 15 October 2018 Record date 05 October 2018 The Directors are pleased to advise that the trading profit after tax for the year to 30 June 2018 is a record $24.75m, up 12.5% on last year. TRADING The total new vehicle industry has continued to run at all-time record levels in the 12 months to June, however the rate of growth has reduced to 2.5% compared to 14% a year ago. In among this slowing growth the movement from cars to SUVs has continued. The heavy truck industry has been stronger with growth 13% year-over-year. Southpac Trucks (with Kenworth and DAF) has grown both its volume and market share in this year. This increased activity is reflected in the balance sheet current assets. DEVELOPMENTS We continue to invest in new and expanded facilities for our dealerships. - At Southpac Trucks in Manukau City the new truck preparation facility has been expanded and an extension is under way to the parts warehouse. - In Wellington, the newly refurbished retail service facility is close to completion and the waterfront brand hubs for Mazda and Ford are being fitted out. We have acquired additional land in Lower Hutt adjacent to the dealership. - In Queenstown, the new dealership for Macaulay Ford and Mazda is under construction. - In Christchurch, agreement has been reached with Otakaro, allowing the South Frame greenway to proceed and the dealership to rebuild on its existing site. Work will commence shortly. OUTLOOK There are currently a myriad of mixed messages influencing the confidence of business and consumers that could influence the medium term outlook for the economy and our industry. DIVIDEND The directors have declared a fully imputed dividend of 35 cents per share, to be paid on Monday, 15 October, with a record date of 5 October. This takes the total dividend for the year to 50 cps, totalling $16.3m, compared to 44cps totalling $14.4m for the previous year. End CA:00322681 For:CMO Type:FLLYR Time:2018-08-23 16:36:20