Peter Warren Automotive reports $14.5M underlying profit
- The company recorded an underlying profit before tax of $14.5 million.
- The financial result met June market guidance but dropped from $22.3 million the previous year.
- Management stated it is expanding its high-growth emerging brand portfolio to strengthen future automotive earnings.
Peter Warren Automotive Holdings (ASX:PWR) reported an underlying profit before tax of $14.5 million for FY26.
The earnings result met previous guidance but represented a clear decline from $22.3 million last year.
Revenue for the period inched up to $2.49 billion from $2.48 billion a year earlier, with growth in used vehicles, service, parts and finance and insurance offsetting a lower average sell price across new vehicles.
"In FY26 we also accelerated our strategic repositioning. We added nine new dealerships without adding new leases, expanded our exposure to high-growth emerging brands and ended the year with a strong order bank," said Peter Warren, CEO Andrew Doyle.
The underlying result excludes $3 million in one-off acquisition and dealership restructure costs during the period.
Operating expenses increased by $18.7 million to $308.4 million, driven by an intentional uplift in spend focused on transitioning the business to support future growth.
Following the announcement, the Peter Warren share price was unchanged at $0.955.
The directors declared a fully franked final dividend of 0.6 cents per share, bringing the total dividend for the year to 3.6 cents per share.
The company noted that its FY27 will be focused on converting those foundations into improved earnings quality, greater operating leverage and sustainable long-term shareholder value.
