Virgin Australia has stepped up its money finding efforts, asking for trading in its shares to be suspended as it works on a restructuring plan and awaits any news from Canberra about a $1.4 billion bailout package from the Federal Government.
The last 12 months have been tough for Bapcor (ASX:BAP) but there now appears to be light at the end of the tunnel. After a challenging period for Bapcor shares, we saw the recent full-year results release (FY19) as potentially a turning point.
The company has recently reiterated net profit growth guidance for FY19 of 9% and will host an investor briefing on July 3. Morgans assesses the company is capable of sustaining a solid single-digit organic growth profile across the forecast years.
The company will acquire five businesses that specialise in the sale and distribution of Japanese truck parts. UBS observes this will strengthen its position in supplying parts to small and medium-size commercial vans and trucks that are experiencing strong growth in demand from the rise of online retail deliveries.