ARB Tracking In Line With Expectations; Fair Value Estimate Unchanged
Our AUD 12 fair value estimate per share for narrow-moat ARB is intact, following a review of recent Australia motor vehicle sales data. As at the end of October 2016, financial year-to-date new sports utility vehicle, or SUV, sales in Australia rose by around 7% on the prior corresponding period. This is consistent with first-quarter fiscal 2017 sales increasing by roughly 8% over the prior corresponding period and our estimates. This data set is a key driver of our estimates for ARB, as Austra...ARB is engaged in the design, manufacture, distribution and sale of motor vehicle accessories and light metal engineering works.
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