BUZZ-Australia's Autosports hits record low on lacklustre earnings outlook

Reuters
29 Jan
BUZZ-Australia's Autosports hits record low on lacklustre earnings outlook

** Shares of Autosports Group ASG.AX fall 3.7% to a record low of A$1.685

** The automotive dealer announces that it expects net profit before tax for H1 FY25 to be A$28 mln ($17.46 mln)

** Co reported a net profit before tax of A$53.2 mln for H1 FY24, marking decrease by 47.4%

** New vehicle trading conditions were challenging in November and December 2024, leading to lower-than-anticipated new vehicle revenue for the same period - co

** About 465,209 shares change hands, 4.4 times the 30-day average of 104,638

** Stock fell 25.6% in 2024

($1 = 1.6038 Australian dollars)

(Reporting by Manasi Dasa Sundeep in Bengaluru)

((Manasi.DasaSundeep@thomsonreuters.com;))

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