Brief: NZ Automotive Investments Says Strengthening NZD To Impact FY22 Results

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01/04/2022 03:31

April 1 (Reuters) - NZ Automotive Investments Ltd  NZA.NZ :
    * EXPECTS UNDERLYING NET PROFIT AFTER TAX FOR YEAR TO BE IN
RANGE
OF NZ$1.7M TO NZ$1.8M
    * SUDDEN STRENGTHENING OF NZ DOLLAR AGAINST JAPANESE YEN HAS
AFFECTED CO'S FOREIGN EXCHANGE HEDGE POSITION
    * SEES FY ACTUAL NET PROFIT AFTER TAX IN RANGE OF NZ$2.6M TO
NZ$2.7M
    * MOVEMENT IN CURRENCY HAS CREATED A MARK TO MARKET LOSS OF
NZ$0.7M
    * FOREX IMPACT RELATES TO INVENTORIES THAT WILL BE DELIVERED
IN
FY23, DOES NOT ECONOMICALLY RELATE TO FY22 YEAR

Source text https://www.i-search.nzx.com/blobs/NZA000000/528564/NZA000000-367981.pdf
Further company coverage:  NZA.NZ 

 ((Reuters.Briefs@thomsonreuters.com;))