Motorbike dealership small cap MotorCycle Holdings Ltd (ASX: MTO) handed down its annual report and FY18 results today with its NPAT falling 2% on FY17 to $9.1 million.
MotorCycle Holding shares were up 5% at the time of writing to $3.36.
According to the report EBITDA rose 21.3% for the year, with revenue up 28.5% but overall operating expenses also rose 42.3%.
Despite challenging market conditions total motorcycle sales did rise 9% and MotorCycle Holdings will issue a fully-franked final dividend of 6.5c – totalling 12c per share for the year.
Wilsons and Morgans both placed a buy rating on MotorCycle Holdings last month, but the company only met the lower end of Wilson’s EBITDA estimates of between $19 million and $20 million on an underlying basis – with an underlying EBITDA of $19.8 million.
Elsewhere in the automotive arena ARB Corporation Limited (ASX: ARB) shares have been on the incline since reporting its results last week with GUD Holdings Limited (ASX: GUD) also on the up on the day before its dividend pay date.
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Motley Fool contributor Carin Pickworth has no position in any of the stocks mentioned. The Motley Fool Australia has recommended ARB Limited. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.