- Vmoto (VMT) has managed to accelerate its profits, announcing an expected net profit after tax (NPAT) of up to $3.4 million in FY20
- It’s a substantial increase for the scooter and electric motorbike business, which ended FY19 with an NPAT of $1.3 million
- The scooter company hit a number of milestones throughout the year, including securing orders for 4300 units for its ride-sharing partner
- It also expanded its international distributors to 50 business to consumer (B2C) distributors across 62 countries globally
- VMT said the success of FY20 was especially pleasing considering the COVID-19 pandemic’s effect on retailers
- Shares in Vmoto have ended the day up 6.58 percent at 40.5 cents each
