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Business Description: ARB Corporation Limited (ARP) manufactures, distributes and sells four-wheel drive vehicle accessories and light metal engineering works with manufacturing plants in Victoria, Australia and Rayong, Thailand. ARP has warehouse and sales centre located in Australia, Thailand and USA, as well as distributers in over 80 countries worldwide.
Strategy Analysis: ARP manufactures and distributes accessories for 4WDs and utility trucks/pickups. Sustained research and development, expertise in product innovation, marketing, exporting and capture of production efficiencies are key to the strategy. ARP aims to grow sales domestically and in export markets. The domestic distribution network is growing with more ARB-branded stores and warehouses. To overcome skilled labour shortages in Australia ARP is expanding its factory in Thailand. ARP aims to pass on to customers the costs of any A$ appreciation and increases in steel input prices. The company aims to capture production efficiencies. Organic growth is the main focus though there are occasional small acquisitions.
ARB Corporation reported NPAT up 14.5% to $20.91m for the half-year ended 31 December 2012. Revenues from ordinary activities were $147.08m, up 10% from last year. Basic and Diluted EPS were 28.85 cents compared to 25.19 cents last year. Net operating cash flow was $18.16m compared to $16.11m last year. The interim dividend declared was 12.5 cents, compared with 11.0 cents last year.
The Age 18/05/2013 |
As Australia's major retailers increase their online sales channels, pouring millions into their websites, they could face new competition from China's booming e-commerce industry.
The Age 18/05/2013 |
Most of those who take a political approach to the budget assume that if it's in deficit, the way you get it back to surplus is to cut government spending or, if you're a really bad person, increase taxes. They forget it's the budget itself that's supposed to do the heavy lifting.
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