- Motorcycle dealership MotorCycle (MTO) expects to report underlying earnings before interest, tax, depreciation and amortisation (EBITDA) of $19.8 million for the half year
- This is better than the expected range of between $16 million and $18 million due to strong trading after COVID-19 restrictions eased in Melbourne and Sydney
- MotorCycle saw significant disruption in January due to COVID-19, but demand kicked back in February
- However, this result is subject to an audit with a half year report to be released next week
- At market close on Wednesday, MotorCycle was up 0.63 per cent and trading at $3.20 per share
MotorCycle Holdings (MTO) is expecting to report underlying earnings before interest, tax, depreciation and amortisation (EBITDA) of $19.8 million for the half year, subject to an audit.
The company said this was a “better-than-expected” result than the range previously announced on December 1, 2021, of between $16 million to $18 million due to strong trading after COVID-19 restrictions eased in Melbourne and Sydney.
MotorCycle saw significant disruption in January due to COVID-19. However, demand kicked back in February.
Notably, the motorcycle dealership operator believes that there is optimisation for the remainder of FY2022.
MTO plans to release its half year results on Friday, February 25, with investors invited to participate via a teleconference.
Additionally, the company has completed its purchase of Wide Bay Motorcycles, which further positions MotorCycle as Australia’s largest motorcycle dealership operator.
At market close on Wednesday, MotorCycle was up 0.63 per cent and trading at $3.20 per share.