AMA Group sees ‘room for improvement’ after Q1
Crash repairer AMA Group says its first-quarter result was in line with expectations as it targets improvements in underperforming areas and grows its workforce.
“AMA Collision is continuing to focus on the key areas of capacity, volume efficiency, method of repair and customer service,” it says in an update. “Good progress has been made. However, there is significant room for further improvement, which will drive improvement in financial performance.”
The company says it is also looking at opportunities for targeted acquisitions of single sites.
The Capital Smart business, which focuses on repairs to still-drivable passenger vehicles, performed well in the quarter, with improved margins.
The company expects more than 140 international recruits will lift its workforce in the first half of this fiscal year. At the end of the first quarter, it had 452 apprentices and 3512 team members.
AMA says the sale of the ACM Parts business is expected to close in “the coming months”.
First-quarter revenue rose to $256.4 million from $243.6 million a year earlier.
Pre-AASB 16 accounting standard normalised earnings before tax, depreciation and amortisation increased to $14.8 million from $13.6 million.