Tiger Brokers

BUZZ-Australia's CAR Group falls over 6% as first-half results miss street view

Reuters
Feb 10, 2025
BUZZ-Australia's CAR Group falls over 6% as first-half results miss street view

** Shares of CAR Group CAR.AX fall 6.4% to A$38.40, their lowest level since January 21

** CAR posts its biggest intraday pct drop since September 30, 2022; top loser in the ASX200 benchmark index .AXJO

** Online automotive marketplace reports 1H25 adjusted net profit of A$177.3 million ($110.90 million), 3% below Visible Alpha consensus

** Says 1H25 reported EBITDA A$292 million, 3% below VA consensus

** Co posts 5.5% growth in net profit to A$123.5 million compared to last year

** "Overall result is quite resilient given tough industry conditions in the U.S. and Private (listing) in Australia normalising" - Citi

** CAR stock up 6.4% this year, including the day's moves

($1 = 1.5987 Australian dollars)

(Reporting by Jasmeen Ara Shaikh in Bengaluru)

((Jasmeenaraislam.shaikh@thomsonreuters.com))

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