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MAXIPARTS LIMITED — Earnings Release 2021
Nov 12, 2020
65389_rns_2020-11-12_87708d78-590c-4309-b826-40b45204796f.pdf
Earnings Release
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13 November 2020
MaxiTRANS profit improvement
MaxiTRANS Industries Limited (ASX:MXI) expects to record an underlying NPBT for H1 FY21 of between $7.2m - $8.3m, including the benefit of JobKeeper in the Australian Trailer business of $4.6m. This reflects a significant improvement over the prior corresponding period which reported an underlying net loss before tax of ($1.2m).
The expected results reflect improved performance and revenue in the Trailer Solutions business. MaxiPARTS’ performance has also improved despite a strong comparator period. The benefit of the overhead reductions implemented late last year have continued into FY21.
Despite a strong start to the year MaxiTRANS remains cautious about the economic outlook in calendar year 2021 and does not expect to issue any guidance for the full financial year FY21. Consistent with prior years, we expect Trailer Solutions sales and therefore Group profit to be weighted to the first half of the year, with a lower profit earned in the second half. Cash generation remains a strong focus for the Group and year to date performance has continued the positive outcomes of last financial year.
MaxiTRANS’ new manufacturing facility at Carole Park in Brisbane is now operational, the project being delivered within cost and schedule expectations. Looking forward into 2021, this facility will provide greater capacity to support our Queensland and NSW customers.
The company will provide more details about the end markets and business performance at its AGM scheduled for 23rd November at 11am.
Authorised by the Board of Directors of MaxiTRANS Industries Limited
Contact:
Dean Jenkins Tim Bradfield Managing Director & CEO CFO (03) 8368 1100 (03) 8368 1100 [email protected] [email protected]
About MaxiTRANS Industries
MaxiTRANS Industries Limited (ASX:MXI) is one of the largest suppliers of truck and trailer parts to the road transport industry in Australia. MaxiTRANS is also the largest supplier of locally manufactured, high quality heavy road transport trailer solutions, including trailer repairs and service, in Australia and New Zealand.
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MaxiTRANS INDUSTRIES LTD (ABN 58 006 797 173) 346 BOUNDARY ROAD DERRIMUT VICTORIA 3026 AUSTRALIA T: +61 (0) 3 8368 1177