Guidance update

The second half to 30 June 2025 is shaping to contribute to a more positive outcome for the full year trading profit after tax than was anticipated following the half year result announced in February. The full year result will not be finalised for some time but the indications are it will only vary slightly from that of last year, so a considerable improvement from the position we reported at the mid-year. This improvement is not an indication of an across-the-board market recovery. It is more likely a reflection of an economic environment that has seen a lift in ‘pockets’ of the wider vehicle market, together with a concerted focus from dealerships to take advantage of those opportunities while addressing their cost structures.