BUZZ-Australia's Bapcor tumbles on weak annual results

Reuters
2024-10-16

** Shares of Bapcor fall as much as 3% to A$5.035, their biggest intraday pct loss since mid-September

** Auto parts firm reports FY 2024 statutory net loss after tax of A$158.3 million ($105.95 million), compared to a profit of A$106.4 mln last year

** Says FY earnings negatively impacted by performance of retail and specialist wholesale units; management actions expected to deliver savings of A$20 mln to A$30 mln in FY25

** Shares hit lowest since Sept. 24

** Stock down 8.1% YTD vs a 9.4% rise in the benchmark S&P/ASX 200 index

($1 = 1.4941 Australian dollars)

(Reporting by Nikita Maria Jino in Bengaluru)

((Nikita.Jino@thomsonreuters.com;))

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