Company Reports

We expect Supply Network's strong earnings growth to continue, underpinned by its competitively advantaged Multispares business and favorable industry dynamics. We forecast Multispares continuing to capture market share in truck and bus parts distribution from original equipment manufacturers and other independent distributors, which lack Supply Network's superior cost position. We forecast a double-digit earning per share compound annual growth rate over the next five years, driven by network expansion, steady industry growth, and operating leverage.

Supply Network's fiscal 2026 net profit was AUD 48 million, 19% up on last year. Revenue grew 16% to AUD 403 million, slightly exceeding its revenue target of an additional AUD 50 million. Supply Network has again targeted AUD 50 million in revenue growth next year.

Australian heavy commercial vehicle sales in fiscal 2026 were down about 12% on last year, per the Federal Chamber of Automotive Industries. Operators appear to be keeping vehicles on the road for longer, with bus and truck part supplier Supply Network set to benefit.

Supply Network's interim 2026 net profit was AUD 23 million, 16% higher than last year. Revenue growth of 17% to AUD 200 million aligns with the company's unchanged guidance of AUD 50 million in top-line growth.

We expect Supply Network's strong earnings growth to continue, underpinned by its competitively advantaged Multispares business and favorable industry dynamics. We forecast Multispares continuing to capture market share in truck and bus parts distribution from original equipment manufacturers and other independent distributors, which lack Supply Network's superior cost position. We forecast a double-digit earning per share compound annual growth rate over the next five years, driven by network expansion, steady industry growth, and operating leverage.

Bus and truck parts distributor Supply Network provided a minor trading update at its annual general meeting. The company noted it is currently on track to achieve its fiscal 2026 revenue growth target of AUD 50 million, implying revenue growth of about 14%.

Supply Network reported fiscal 2025 net profit of AUD 40 million, 21% higher than last year. Revenue grew 15% to AUD 349 million. Capacity doubled at Darra in Brisbane and Adelaide, augmented by smaller capacity upgrades elsewhere and a new parts store in Western Australia.

We expect Supply Network's strong earnings growth to persist, underpinned by its competitively advantaged Multispares business and favorable industry dynamics. We forecast Multispares continuing to capture market share in truck and bus parts distribution from original equipment manufacturers and other independent distributors, which lack Supply Network's superior cost position. We forecast a double-digit earning per share compound annual growth rate over the next five years, driven by network expansion, steady industry growth, and operating leverage.

Supply Network is a distributor of aftermarket truck and bus parts in Australia and New Zealand, operating under the Multispares brand. The company has grown strongly over the last five years, with revenue and EBITDA compound annual growth rates of 20% and 33%, respectively.

We expect Supply Network's strong earnings growth to persist, underpinned by its competitively advantaged Multispares business and favorable industry dynamics. We forecast Multispares continuing to capture market share in truck and bus parts distribution from original equipment manufacturers and other independent distributors, which lack Supply Network's superior cost position. We forecast a double-digit earning per share compound annual growth rate over the next five years, driven by network expansion, steady industry growth, and operating leverage.