Asco Motors shows strong performance
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.
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.
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.
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.