NZ's 2 Cheap Cars Group eyes best day in four months on HY results

2 Cheap Cars

14/11/2023 22:55

** Shares of 2 Cheap Cars Group  2CC.NZ  rise as much as
26.8% to NZ$0.90, highest since March 2022
    ** Shares up 25.4% to NZ$0.89; set for best day since July
6, if gains hold
    ** Automotive company reports HY revenue of NZ$41.9
mln($25.2 mln), up 4% YoY and HY net profit after tax (NPAT) of
NZ$3.2 mln, up NZ$2.6 mln
    ** Company increases FY24 NPAT forecast to be above NZ$6.8
mln, up from previous forecast of NZ$5.2 mln to NZ$5.7 mln
    ** Stock has more than doubled YTD, as of last close

 ($1 = 1.6656 New Zealand dollars)

 (Reporting by Sherin Sunny in Bengaluru)
 ((Sherin.Sunny@thomsonreuters.com))