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Edge16 Oct 2026
Winner, Winner: The Chicken McNugget Story
How a 1940s breeding contest, a Cornell food scientist, and a hedge by Ray Dalio helped McDonald's turn the Chicken McNugget into a fast-food icon.
2 Cheap Cars Group
2 Cheap Cars Group (2CC) investor relations material
2 Cheap Cars Group AGM 2026 summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.AGM 2026 summary24 Sep, 2026
Opening remarks and agenda
Meeting opened by the chair, with directors, executive team, legal counsel, and auditors present; voting and Q&A procedures explained.
Chairman's address and operational update were presented, followed by resolutions and a general business Q&A session.
Agenda included chair's address, financial results, operational update, resolution, and Q&A.
Financial performance review
FY 2026 NPAT was NZD 3.2 million, with revenue at NZD 81.7 million, showing resilience despite market volatility.
Gross margin for FY 2026 was 21.3%, down from 21.7%; operating cash flow was NZD 4.2 million, down from NZD 6.7 million.
Clean Car Standard costs reduced NPAT by NZD 1.7 million; targeted investments made in retail and buying capabilities.
For the first five months of FY 2027, revenue rose 5% to NZD 35.1 million, gross margin improved to 25%, and NPAT increased to NZD 2.3 million.
Finance and insurance commission income rose 17% to NZD 7.9 million, with finance penetration up to 31%.
Board and executive committee updates
Independent directors formed a committee to evaluate a takeover offer from Sena & Co, recommending acceptance.
Board chaired by Michael Stiassny, with David (Yusuke) Sena as CEO and Angus Guerin as CFO.
Board oversight included strategic operational priorities and careful evaluation of investments for long-term growth.
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Latest events from 2 Cheap Cars Group
- Second-half gains drove FY26 profit to $3.2 million despite regulatory headwinds.2CC
H2 2026 - Revenue and profit surged in FY24, with major Auckland expansion and margin gains.2CCASM Presentation 2024
- Net profit dropped to $1.01m as revenue and sales volumes declined amid regulatory and credit risks.2CCH1 2026
- Revenue and profit fell, but digital and local sourcing strategies target renewed growth.2CCAGM 2025
- Profit fell to $1.67m on margin pressure despite higher sales; 3.06 cps dividend declared.2CCH1 2025
- Net profit dropped 47% to $3.3m as revenue and margins declined in a subdued market.2CCH2 2025
Next 2 Cheap Cars Group earnings date
H1 202718 Nov, 2026
2 Cheap Cars Group
Next 2 Cheap Cars Group earnings date
H1 202718 Nov, 2026
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Frequently asked questions
2 Cheap Cars Group Limited is a New Zealand-based company specializing in the import and retail of affordable used vehicles. The company operates a network of dealerships across New Zealand, offering a range of pre-owned cars targeted at value-conscious consumers. In addition to vehicle sales, 2 Cheap Cars provides financing and insurance options to support customer purchases, aiming to make car ownership accessible. The company is headquartered in Auckland, New Zealand, and its shares are listed on the NZX.