- RPM Automotive Group’s (RPM) trading has exceeded expectations in April and May
- More broadly, RPM says performance has exceeded the overall performance of the greater tyre and wheel industry
- The extra cash is attributed to the strong demand for truck and bus radial (TBR) and commercial tyres
- RPM also says its competitors in the industry have been unable to maintain a consistent supply
- The company’s manufacturing business has also seen improved sales due to the strong demand for components used in repairs and roadside assistance
- As expected, the company’s retail businesses have experienced significantly reduced turnover, however, JobKeeper and the cash flow boost has kept these businesses up and running over the quarter
- On market close, RPM is up 7.69 per cent, selling shares for 14 cents each
RPM Automotive Group’s (RPM) trading has exceeded expectations in April and May.
“While market volatility still exists, it has certainly diminished,” the company said.
The tyre and wheel division has exceeded the company’s forecast. More broadly, RPM says performance has exceeded the overall performance of the greater tyre and wheel industry.
The extra cash is attributed to the strong demand for truck and bus radial (TBR) and commercial tyres. RPM also said that its competitors in the industry have been unable to maintain a consistent supply.
RPMThe company’s manufacturing business has also seen improved sales due to the strong demand for components used in repairs and roadside assistance, as well as performance and accessories.
As expected, the company’s retail businesses has experienced significantly reduced turnover, however, JobKeeper and the cash flow boost has kept these businesses up and running over the quarter.
“Now that management has resolved the initial challenges resulting from the onset of COVID-19, it can refocus and continue to pursue acquisitional opportunities,” the company said.
“While there may be delays, the board is confident that it will be able to execute these transactions,” it added.
On market close, RPM is up 7.69 per cent, selling shares for 14 cents each.