The ARB Corporation Limited (ASX: ARB) share price is on course to finish the week with a day in the red.
The four-wheel drive accessories company's shares are down 1% to $18.70 in late afternoon trade on Friday.
Why are its shares lower?
This morning ARB Corporation provided the market with an update on its first-half profit expectations.
According to the release, management expects profit before tax for the half-year to 31 December 2017 to grow by 10% on the previous corresponding period.
Management advised that it is pleased with the underlying year-to-date operating performance and expects to release its half-year results to the market on February 21 2018.
This profit growth appears to be in line with market expectations and today's decline is likely to be down to the market sinking lower as a whole today.
Despite today's decline, ARB Corporation's shares are up 6% so far in 2017.
