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AMA stems losses as smash repair revenues rise 

Smash repairer AMA Group’s losses narrowed to $9.2 million in the first half, amid a period of upheaval that included board and executive changes and new pricing arrangements.

The company says the half continued an improved trajectory, with the result comparing with a loss of $27.2 million in the previous corresponding period. Revenue and other income increased 10% to $469.3 million.

AMA has previously criticised insurers for pricing arrangements that have failed to keep pace with cost rises fuelled by labour shortages, supply chain constraints and more complex technology in vehicles.

Improved commercial pricing in the latest half mainly reflected a July 1 reset of the Capital Smart collision repair contract with Suncorp, while the group also reported easing labour conditions and moderating inflation.

AMA Group COO Mathew Cooper was promoted to CEO from December 1 after previous head Carl Bizon stepped down at the annual general meeting. Caroline Waldron has replaced Anthony Day as Chair, amid several board changes.

The group last week confirmed the previously announced retirement of Executive Director Simon Moore from the board, effective Friday.