Asco Mo­tors shows strong per­for­mance

Fiji Sun - - Sunbiz - SOURCE: SPSE Feed­back: farzana.nisha@fi­jisun.com.fj

Toy­ota Tsusho (South Sea) Lim­ited has an­nounced a $6.7 mil­lion net profit af­ter tax for the 2016 half year com­pared to $3.9m last year, an in­crease of 72.9 per cent. The an­nounce­ment was made by the direc­tors, trad­ing as Asco Mo­tors in Fiji, Samoa, Amer­i­can Samoa and Tonga.

Fiji

Toy­ota con­tin­ues to re­tain its brand lead­er­ship in the mar­ket given the very com­pet­i­tive en­vi­ron­ment. The suc­cess­ful ten­der bid for the sup­ply 340 ve­hi­cles to the Fi­jian Govern­ment has con­trib­uted to the im­proved per­for­mance in new and used ve­hi­cles and their mar­ket operations. The Buoy­ant economy, growth in the tourism in­dus­try and trop­i­cal cy­clone Win­ston re­cov­ery projects had a pos­i­tive im­pact on their Yamaha and Avis busi­nesses.

Toy­ota unites sales for the half year has grown by 15 per cent com­pared to last year, with strong sales across re­tail, fleet and govern­ment cus­tomer seg­ments.

Amer­i­can Samoa

Toy­ota unit sales for the half year have grown by 20 per cent com­pared to last year. Slower af­ter­mar­ket trad­ing per­for­mance and higher ex­penses has im­pacted the 2016 held year net profit af­ter tax re­sult.

Tonga

Toy­ota unit sales for the half year were con­sis­tent with last year and the trad­ing per­for­mance in used ve­hi­cles and car rental has im­proved. How­ever, the clo­sure of the sec­ond fuel sta­tion site in De­cem­ber 2015 im­pacted the 2016 half year net profit af­ter tax re­sult.

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