LOGIN JOIN SHARECAFE SIGN UP FOR OUR NEWSLETTER ADVERTISE
share cafe logo  
 
SHARECAFE COMMENTARY

A.P. Eagers Sales Growth Hits The Brakes
BY GLENN DYER - 24/01/2018 | VIEW MORE ARTICLES BY GLENN DYER

Get More Commentary, Discussion & Market Information On -

APE - AP EAGERS LIMITED


Australia's oldest listed automotive retail group, A.P. Eagers earned run of earning a consecutive annual record profits came to an end in 2017.

The company, which also controls 24.5% of the biggest car dealer, Automotive Holdings of Perth, told the ASX in a brief update that statutory net profit would be 4% lower at $135.7 million, against $141.4 million earned in its fiscal 2016 year.

The company says it wrote off $5.2 million in the year on restructuring and other charges.

Underlying profit will be up 2% at $140.8 million. Results will be out on February 21.

Directors said that strong contributions from the company’s management of its property and investment interests “helped offset challenging industry conditions” - a reference to the fall in profits from selling cars that showed up mid year.

That was despite a record year for car sales - 1,189,116 vehicles were bought during 2017, up from 1,178,133 in 2016.

Eager share rose 0.3% to $8.11. They are down 13.1% in the past year.



View More Articles By Glenn Dyer

Glenn Dyer has been a finance journalist and TV producer for more than 40 years. He has worked at Maxwell Newton Publications, Queensland Newspapers, AAP, The Australian Financial Review, The Nine Network and Crikey.

At the AFR he was a finance writer, Finance Editor, News Editor and Chief of Staff. At the Nine Network he was supervising producer of Business Sunday for more than 16 years. He has also written for other online and analogue print publications here and overseas.



 

SHARECAFE VIDEO


Key movements in the Australian ETF market

More video   

RECENTLY ADDED TO SHARECAFE


 › CSL In Rude Health Lifts Dividend 26%
 › Wheatstone LNG Drives Wheatstone To Stronger Half
 › What Happened To All The Worries About Rising Inflation And Bond Yields?
 › Market At Midday On Wednesday
 › Buffett Still Has A Taste For Apple
 › Global Investors Maintain Tech, Home Bias
 › Overnight: Breathe A Sigh
 › GBT - Morgans rates the stock as Add
 › ANZ - Macquarie rates the stock as Outperform
 › SGF - Citi rates the stock as Upgrade to Buy
 › Domino's Fails To Deliver
 › Investors Deaf To Cochlear Growth Story
 › July China Data Disappoints
 › Business Conditions Wane In July
More ShareCafe   

GET THE SHARECAFE BREAKFAST BRIEFING


Delivered free to your inbox before the market opens each trading day. Sign up below +