Bapcor (ASX:BAP) expects to deliver savings of AU$20 million to AU$30 million in the financial year 2025 as a result of its cost-saving measures including headcount reductions, according to a Wednesday filing with the Australian bourse.
Savings from staff cuts are coming through in the first half, while those from the distribution center rationalization are weighted to the second half, said Executive Chair and Chief Executive Officer Angus McKay at the company's annual general meeting on Oct. 16.
Meanwhile, total revenue as of Sept. 30 rose 0.7% year on year.
The autoparts company's shares were down 3% in recent trade.
Price (AUD): $5.06, Change: $-0.14, Percent Change: -2.60%
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