Steve Daghlian

It is one of the largest vehicle parts, accessories, and equipment providers across the region.

It owns the Autobahn retail chains and Midas as well.

So basically, it said that trading conditions have deteriorated materially

since late March due to the Middle East conflict.

So that's been raising freight, fuel supply cost as well.

Interest rate hikes we've had recently, we've had three already this year, not helping as well.

So it's basically reduced its profit targets quite significantly for the year.

Yeah.

Air New Zealand, I will quickly mention, it's down around 4%.

It warned investors of the impact of surging jet fuel prices on its bottom line due to the Middle East conflict.

It basically said that jet fuel prices were sitting at between $85 and $90 US per barrel before the escalation of the conflict.

But over the past 10 weeks, they've been paying prices, you know, prices are up around $160 to $230 per barrel.

So that's about 2.7 times from low to high.

So that's basically meant that the company's flagging a bit of a loss for the year.

And it reckons its second half jet fuel costs could come in almost at a billion New Zealand dollars.

So locally listed Qantas and also Virgin both down as well.

Yeah, we've got a day left of trade as well.

We're down 1.2% now since the start of the week, so it'll have to be a pretty good day to turn that around.

But I think that ends it.

Have a great evening, everyone, and make sure you tune in for the morning podcast tomorrow.