AP Eagers forecasts record first-half result


Following a strong start to 2012 trading, Brisbane-based car and truck dealership group AP Eagers expects another record first-half result

April 13, 2012

Following a strong start to 2012 trading, Brisbane-based car and truck dealership group AP Eagers is expecting another record first-half result.

Underlying profit before tax is forecast to be 20-25 percent higher than the first-half 2011 before tax result of $27.9 million.

In a market update the company says revenue has increased by 8 percent in the year to date, with all divisions contributing to the growth in profit.

AP Eagers points out that the first half of 2011 was impacted by the Queensland floods and supply constraints resulting from the Japanese tsunami, hence profits in calendar year 2011 were weighted more towards the second half of the year as vehicle supply returned.

New vehicle market conditions have improved, as shown by industry statistics showing new vehicle sales in the year to March 2012 up by 4.7 percent, including heavy vehicle sales up by 13.7 percent.

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