AP Eagers (ASX:APE) see losses in a difficult auto market
AP Eagers (ASX:APE) FY19 result reflects year of transformation with Statutory Loss After Tax from continuing operations of $80.5 million or $129.1 million when discontinued operations are included.
2018 saw a profit of $97.5 million.
According to Federal Chamber of Automotive Industry statistics, Australia’s new motor vehicle sales decreased by -7.8 per cent in 2019 as compared to 2018.
The challenging market conditions were reflected across the Australian industry, with every State recording a decline on pcp.
They will release a Final Dividend of 22.5 cents per share, the same as 2018.
Shares in AP Eagers (ASX:APE) are trading 3.3 per cent higher at $8.77.
Copyright 2020 – Finance News Network
Source: Finance News Network
