ARB Corp (ARB) $33.32

ARB -0.24%: Provided a positive trading update today ahead of their 1H23 results due out on Feb 21. While Sales revenue of $340.9m was down 5% on pcp, it is ahead of the $330.5m expected while the second part of the period (2Q) showed growth – so the worm is turning here. They also talked to inflationary pressures easing calling out freight & steel prices that are returning to more historical levels, clearly a positive for ARB but also interesting from a wider perspective. So, revenue is now growing and cost pressures are subsiding which will lead to improved margins. This was a good update from ARB after a tough period.