Autosports Group (ASX:ASG) records net loss after tax of $102.4M

28AugAugust 28, 2020

Autosports Group (ASX:ASG) records net loss after tax of $102.4M

Autosports Group (ASX:ASG) recorded statutory revenue of $1.7 billion, up 1 per cent year on year.

Normalised EBITDA was down 14.7 per cent to $44.3 million. The company made a net loss after tax of $102.4 million.

Autosports Group says the acquisitions of Mercedes-Benz Hornsby and Trivett Alexandria are on strategy, well priced and performing well.

It expects the demand for vehicles to remain strong with sales bouncing back strongly as restrictions are lifted; similar to the June 2020 experience.

Shares in Autosports Group (ASX:ASG) are trading 6.8 per cent lower at $1.17.

Copyright 2020 – Finance News Network

Source: Finance News Network

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