BUZZ-Australia's Bapcor soars on FY25 cost savings guidance

Reuters
02-26
BUZZ-Australia's Bapcor soars on FY25 cost savings guidance

** Shares of auto parts firm Bapcor BAP.AX rise as much as 15.1% to A$5.170, its biggest intraday pct gain since late-March 2020

** Co says it expects to reach upper end of A$20 million to A$30 million ($12.70 million-$19.05 million) cost savings target in FY25

** Announces interim dividend of 8 Australian cents per share, unchanged from last year

** Trade performing well as we expected - Jefferies

** Co, however, posts a 15.2% Y/Y drop in net profit after tax pro forma at A$45.5 million

** Stock has risen 10.2% this year, as of 2353 GMT

($1 = 1.5746 Australian dollars)

(Reporting by Roshan Thomas in Bengaluru)

((Roshan.Thomas@thomsonreuters.com))

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