AP EAGERS REVS BUSINESS ENGINE WITH RECORD PERFORMANCE

AP EAGERS REVS BUSINESS ENGINE WITH RECORD PERFORMANCE

THE team at AP Eagers (APE) is getting more performance out of the business engine than any time in the past, reporting record earnings per share and dividends for the 2012 calendar year.

The car sales, property and development business boosted statutory earnings per share by 33 per cent to 34 cents per share, while increasing the fully franked dividend 25 per cent to 13 cents for a full-year dividend of 20 cents – up 56 per cent over two years.

APE also boosted revenue by 10 per cent to $2.64 billion, while profit after tax improved 38 per cent to $55 million compared to the previous calendar year. EBITDA (Earnings before interest, tax, depreciation and amortisation) is up 17 per cent to $115 million.

APE shares were selling at $5.390 per unit this afternoon, up 1.51 per cent on the previous day’s close. The company has close to doubled in value since April last year. Further value was also realised from the 2010 Adtrans acquisition.

Last year’s strategic investment in Automotive Holdings Group (AHG) has returned a big profit for the company. It cost $138 million and has a current market value of $196 million.

APE management has released a statement putting the improved performance down to widespread operational improvements.

Management has been contacted for comment.

Get our daily business news

Sign up to our free email news updates.

 
Whitefox Recruitment founder Luke Hemmings making strides as a careers leader
Partner Content
After relocating his Canberra-founded company Whitefox Recruitment to the Gold Coast la...
Whitefox Recruitment
Advertisement

Related Stories

ASIC secures its first court win for greenwashing against US giant Vanguard

ASIC secures its first court win for greenwashing against US giant Vanguard

The Australian corporate watchdog has caught out one of the world&r...

Medicinal cannabis group Althea shaves $1.5m from its cost base through staff cutbacks

Medicinal cannabis group Althea shaves $1.5m from its cost base through staff cutbacks

Australian-founded medicinal cannabis company Althea Group (ASX: AG...

Charter Hall snares 15pc stake in Hotel Property Investments for $97m from 360 Capital

Charter Hall snares 15pc stake in Hotel Property Investments for $97m from 360 Capital

Listed funds manager 360 Capital Group (ASX: TGP) has offloaded its...

The party’s over: Splendour in the Grass festival cancelled for 2024

The party’s over: Splendour in the Grass festival cancelled for 2024

Splendour in the Grass, Australia’s largest winter music fest...