West Perth-based Automotive Holdings Group Ltd has recorded a 25.3 per cent increase in first half net profits, bringing their total to $11.9 million, and earnings per share to 8.5 cents.
West Perth-based Automotive Holdings Group Ltd has recorded a 25.3 per cent increase in first half net profits, bringing their total to $11.9 million, and earnings per share to 8.5 cents.
West Perth-based Automotive Holdings Group Ltd has recorded a 25.3 per cent increase in first half net profits, bringing their total to $11.9 million, and earnings per share to 8.5 cents.
The company increased revenue for the period to $936.5 million, up 17.8 per cent with earnings before interest, tax, depreciation and amortisation up to $32.2 million, up 28.3 per cent.
A company announcement credited the result to strong trading conditions in Western Australia and the maturing of some planned gowth objectives implemented by the group.
AHG acquisitions Auckland Auto Collection Ltd in New Zealand and McGrath Lander Group in New South Wales brought net profits of $33,000 and $486,000 respectively.
AHG managing director Bronte Howson said the comopany's automotive retailing and logistics arms had both enjoyed strong trading periods, and said the company would continue to explore a range of opportunities in both operating divisions, as well as new geographic markets.