Peter Warren Automotive (ASX:PWR) expects underlying profit before tax in the range of AU$6 million to AU$8 million in the fiscal first half ending Dec. 31, according to a Thursday filing with the Australian bourse.
The forecast reflects external factors such as Australia's over-supply of new vehicles, reduced margins across the industry, and lower demand for new vehicles, the filing said.
The company is pursuing cost-reduction initiatives across external expenditure, internal resources, and underperforming locations to improve performance, according to the filing.
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