A.P. EAGERS HITS RECORD PROFIT

Written on the 24 August 2016 by Brisbane Business News

A.P. EAGERS HITS RECORD PROFIT BRISBANE'S largest automotive group has posted a record profit for the full year.

A.P. Eagers (ASX: APE) saw its statutory profit after tax climb 11.5 per cent to $49.1 million.

The company has also declared a record interim dividend of 13c per share, up 8.3 per cent from FY15.

Strong trading performances in NSW and South Australia are said to have offset slower trade in Queensland. A.P. Eagers says Queensland was down, following a surge after the November 2014 half storm, so the company says 'this was more reflective of the exceptional hail driven market dynamics of the 2015 half year rather than a softening of the market or material operational deterioration'.

A.P. Eagers national truck operations also fared well, while recent acquisitions such as Melbourne-based Birrell Motors Group, completed in April, also drove revenue in Victoria and Tasmania. 

According to Federal Chamber of Automotive Industry statistics, private car sales decreased by 4.5 per cent in the half year to June 30, but this was more than offset by a 15.8 per cent increase in business sales.

A.P. Eagers is continuing redevelopment of its Newstead dealerships, with the opening of the new Volkswagen dealership in April 2016.

Redevelopment of Land Rover, Jaguar and Volvo commenced in June and is expected to be complete in March next year when A.P. Eagers exits Fortitude Valley.


Author: Brisbane Business News Connect via: Twitter

Latest News

SUPREME COURT ORDERS OCTAVIAR GROUP TO WIND UP

THE Queensland Supreme Court has ordered the Octaviar Group of companies (formerly known as MFS Group) to be wound...

CEOS BRAVE THE COLD TO RAISE $1.4 MILLION FOR THE HOMELESS

MORE than 400 executives confronted the cold last night in the annual Vinnies CEO sleepout, which took place benea...

JENNIFER WESTACOTT ON BANK TAX: IT EXPOSES GOVERNMENT "DESPERATION"

South Australia's new bank levy exposes the desperation of a government that is unable to get its own budget and ...

BASKETBALL'S COMEBACK CONTINUES WITH NBL CLUBS TO FACE OFF AGAINST CHINA'S NATIONAL TEAM

THE RESURGENCE of Australia's National Basketball League (NBL) continues with China's national team to play t...

Related News

BASKETBALL'S COMEBACK CONTINUES WITH NBL CLUBS TO FACE OFF AGAINST CHINA'S NATIONAL TEAM

THE RESURGENCE of Australia's National Basketball League (NBL) continues with China's national team to play t...

DOMESTIC TOURISM IN AUSTRALIA BREAKS RECORDS, INJECTS $61.7 BILLION INTO NATIONAL ECONOMY

DOMESTIC Australian tourists have spent a record breaking $61.7 billion on intra and interstate travel this year, acc...

THE DOCTORS WHO PLUNGED INTO THE SHARK TANK AND SURVIVED WITH A $500,000 INVESTMENT

THEIR mission is to change the face of cancer care with an app that empowers and connects patients and care givers...

IMF BRACES FOR BIG LOSS FOLLOWING WITHDRAWAL FROM SPOTLESS CLASS ACTION

LITIGATION fund IMF Bentham (ASX: IMF) is set to lose as much as half a million dollars after it ceases funding one o...

BOOK YOUR FUNCTION SPACE HERE

 

 

 

Contact us

Email News Update Sign Up Contact Details
Subscriptions

PO Box 2087
Brisbane QLD 4001

LoginTell a FriendSign Up to Newsletter