RPM Automotive Group Ltd (ASX:RPM) has reported its maiden full-year financial results as a listed company for the period ended June 30 2020.
Despite challenges associated with the COVID-19 pandemic and government-imposed restrictions, the company exceeded its turnover budget and effectively met its earnings before interest and tax projection.
RPM chief executive officer and managing director Clive Finkelstein said: “Trading results for FY20, achieved in what can only be described as a very difficult FY20, have certainly surpassed our revised expectations of March 2020.
“Despite the challenging year, the performance under review has been pleasing.
“The underlying earnings are good considering the hefty one-off expenses associated with the RPM Listing (RTO) in late August 2019 and the enormous trading difficulties associated with the COVID-19 pandemic and the resulting government-imposed restrictions.
“Not-with-standing the above, RPM exceeded its turnover budget and effectively met its earnings before interest and tax projection (normalised).”
Wheels and tyres produce stunning results[hhmc]
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