BUZZ-Australia's Bapcor tumbles on weak annual results

Reuters
16 Oct 2024

** 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;))

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Most Discussed

  1. 1
     
     
     
     
  2. 2
     
     
     
     
  3. 3
     
     
     
     
  4. 4
     
     
     
     
  5. 5
     
     
     
     
  6. 6
     
     
     
     
  7. 7
     
     
     
     
  8. 8
     
     
     
     
  9. 9
     
     
     
     
  10. 10