ARB trades to all time highs
ARB Corporation (ARB) +2.14%
Traded higher today on the back of a solid first quarter update as demand for 4WD accessories spikes. ARB, which manufactures a broad offering of car accessories aimed at the off-roading and camping market, has seen revenue 17.7% higher than last year, dropping down to an unaudited pre-tax profit of $29.7m – even before adding in government benefits totalling nearly $10m.
The market currently sits at $85.2m PBT for the full year vs the current run rate of $118.8m. While there’s no guarantee ARB will get to that figure, the update highlights the shift in the market as a number of new customers look at the off road/grid holiday to replace their usual cross boarder trips. The company noted the order book remained strong though the outlook was still uncertain, they expect to give a more detailed update at the AGM next week. Vehicle & parts demand has been pretty significant benefactor of the changes brought on by COVID, and I can’t see it slowing down anytime soon. ARB did punch through to all-time highs today, though not very convincingly so, finishing well off the high. I suspect it is due for some consolidation.
ARB Corp (ARB) Chart
