Australia's largest car and truck retailer has managed a small rise in half year profit, as changes in its road transport operations weighed on earnings.
Automotive Holdings Group owns more than 150 car and truck dealerships across Australia and New Zealand and operates several transport and refrigerated transport businesses.
It also supplies car parts and truck bodies, and imports motorcycles.
The company made a net profit of $38.4 million in the six months to December 31, up from $37.9 million in the same period a year earlier.
Its automotive retail division generated operating earnings of $64 million, a rise of 11.5 per cent from a year ago.
Managing director Bronte Howson said the retail segment had proven resilient, given the threat of changes to fringe benefits tax, which were scrapped after the federal election.
"The group's scale and broad portfolio of brands was able to withstand the effects of uncertainty caused by the fringe benefits tax issue and the subsequent federal election," he said.
But operating earnings in the company's logistics businesses fell by 14 per cent to $15.4 million, due to the cost of its refrigerated transport business, Rand, moving into new premises, plus weaker demand for fresh goods.
But Mr Howson said there was continued strong demand for increased temperature controlled transport, and cold storage.
Automotive Holdings' shares dropped five cents to $3.65.
