New Zealand's 2 Cheap Cars rises on upbeat second-half earnings outlook

2 Cheap Cars

14/01/2026 21:54

** Shares of New Zealand's 2 Cheap Cars 2CC.NZ rise as much as 9.8% to NZ$0.615, hitting their highest level since Dec. 22

** Stock logs its biggest intraday pct gain since May 24, 2024

** Used-car dealership firm says it expects second-half net profit after tax to exceed NZ$2 million ($1.15 million)

** Co reported NPAT of NZ$1.01 million in first half

** Adds, performance improved in latter part of third quarter and into early fourth quarter of FY26

** Stock fell 25% in 2025

($1 = 1.7397 New Zealand dollars)

(Reporting by Rajasik Mukherjee in Bengaluru)

((Rajasik.Mukherjee@thomsonreuters.com))