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As we approach the second quarter of the year, the Porter Group are firing on all cylinders with our new management structure already proving beneficial for our team and customers. The newly integrated approach is producing streamlined results across all our divisions and business is looking positive as we move further into 2021. Though activity has been on the increase, it has not been without its challenges. The global construction equipment market as a whole has faced supply issues across the board in the wake of Covid-19, as factories struggle to ramp up production to previous capacity. At the same time, global demand has increased exponentially, causing the supply chain to feel the pinch. Shipping delays and container shortages have further exacerbated the issues causing frustration around the world across all trade-based business. Despite these obstacles, our sales teams are seeing positive results. In New Zealand, Porter Equipment has seen a ramp up in activity since Christmas, with the excavator market reaching record levels for the first quarter of 2021. The forestry sector in particular is flourishing, with the demand for our custom FX models reflecting this. In Australia, our sales teams are seeing huge demand across all brands, particularly in the quarrying and construction sectors. With activity reaching record highs in response to government investment, civil work is booming in all states and Porter Equipment is well positioned to meet customer requirement. These positive reports are further solidified by the recent honours bestowed upon Porter Equipment by Hyundai Construction Equipment in both New Zealand and Australia. Porter Equipment New Zealand has been awarded International Dealer of the Year for 2020, with Australia receiving Best Product Support for the same period. These awards are a direct reflection of the hard work of our teams across both territories during a tough year; we look forward to adding to this collection in 2021. In the hire space, New Zealand is seeing a very strong run heading into winter. Our newly invigorated fleet and integrated management approach is seeing some sizeable contracts landed with the customer base continuing to grow. This investment in new equipment and updated business philosophy is echoed across the Tasman, with demand for equipment rental steadily increasing. Our Californian team have been faced with a difficult period in the wake of the global pandemic, with restrictions still in place over twelve months later. Despite this strain on trade, contractors throughout the state have an optimistic outlook for positive economic growth over the next two years in response to low interest rates and sizeable government relief packages. With significant infrastructure spending predicted in the near future, our equipment sales and hire teams are poised and ready to make up lost ground. Across the board, the Porter Group is continuing to do what we do best, supplying quality heavy equipment and service to our customers. We are excited by the progress made so far in 2021 and would like to express a sincere thank-you to our many loyal customers for their ongoing support. We look forward to seeing what the rest of the year brings and wish everyone the best for the coming months.

Darren Ralph
Porter Group Chief Operating Officer

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