Autosports Group Limited Provides Earnings Guidance for the First Half of 2020
January 30, 2020 at 03:54 am IST
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Autosports Group Limited provided earnings guidance for the first half of 2020. It is expected that other revenue will be down $6.7 million to $33.2 million ($39.9 million other revenue in first half of 2019) predominantly due to a reduction in OEM bonus income. Overall, it is expected that the company will show total revenue and net profit before tax (NPBT) approximately in line with first half of 2019 (first half of 2019 revenue $862.5 million and first half of 2019 NPBT $10.9 million). NPBT (above) excludes the impact of acquisition amortisation, one-off costs associated with acquisitions, the closure of discontinued businesses and the impact of the changes to AASB16 accounting standards.
Autosports Group Limited is an Australia-based automotive dealer company. The Company's principal activities include the sale of new and used motor vehicles, distribution of finance and insurance products on behalf of retail financiers and automotive insurers, sale of aftermarket products and spare parts, motor vehicle servicing and collision repair services. The Company represents automotive brands including Alpina, Aston Martin, Audi, Bentley, BMW, BMW Motorrad, Ducati, Jaguar, Kia, Lamborghini, Land Rover, Maserati, McLaren, Mercedes-Benz, MINI, Rolls-Royce, Subaru, Volkswagen and Volvo. It has approximately 55 luxury and prestige car dealerships located in Sydney, Melbourne, Brisbane, Gold Coast and Auckland. It offers a range of different services, including scheduled interval services, quick checks, and special safety checks. The Company, through its subsidiaries, also owns Motorline BMW, Motorline MINI, Motorline Bodyshop, Gold Coast BMW and Gold Coast MINI.