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

APOLLO REVS UP ITS RESULTS

APOLLO Tourism & Leisure (ASX: ATL) has hit its profit forecast in its maiden result as a publicly traded company...

JASMINE YARBROUGH AND TAMIE INGHAM TAKE MARA & MINE TO HOLLYWOOD

MARA & MINE entrepreneurs Jasmine Yarbrough and Tamie Ingham (pictured left and right respectively) slipped in...

HUGE PROFIT SPIKE FOR HELLOWORLD HEALS MERGER WOUNDS

HELLOWORLD (ASX: HLO) gripped the share market this morning after its announcement of a whopping 880 per cent increas...

PROFIT DROP AT SERVCORP

SERVICED office company Servcorp has seen its profit fall, citing New York City, Singapore and Saudi Arabia as the pr...

Related News

WHY EMPLOYEE-OWNED COMPANIES ARE BEATING ASX200 SHARE PRICES

EMPLOYEE-owned companies command a higher share price than their publicly listed peers, reaping a 17 per cent prem...

RISE OF THE MACHINES HAS WORKERS SWEATING

UP TO 3.8 million Australian workers are fearful their job may soon be terminated by a robot, a new survey has shown....

LESS TALK, MORE SMALL BUSINESS ACTION IN 2017

THE future growth and prosperity of Australian SMEs could be undermined if governments lose sight of the sector...

TEST DRIVE A POST GRAD AT BOND

THERE'S only one way to really move your career into the fast lane, says Bond University, and 'test driving...

Contact us

Email News Update Sign Up Contact Details
Subscriptions

PO Box 2087
Brisbane QLD 4001

LoginTell a FriendSign Up to Newsletter