Bapcor Ltd (ASX:BAP) on Tuesday reported a first half profit of $40.4 million, a 45% increase over the same period a year earlier.
Bapcor Ltd posted revenue of $616.1 million in the period. This was 41.6% higher than the same period last year. The company announced a fully franked interim dividend of 7 cents per share, an increase of 27.3%.
Bapcor is Australasia’s leading provider of automotive aftermarket parts, accessories, equipment and services, with a network of over 800 locations across Australia and New Zealand.
Bapcor CEO Mr. Darryl Abotomey said “the first half of FY18 has delivered a very good result and in line with our expectations. Bapcor’s exceptional performance and growth trajectory are a direct result of the talent, passion and dedication of our people, franchisees, and the support of our customers and suppliers.”
Outlook
Bapcor is forecasting continued revenue and profit growth in H2 FY18 through underlying business performance, supported by the benefits realised through business optimisation and store network growth. Bapcor’s previous full year guidance for financial year 2018 remains unchanged at 30% growth in Pro-forma NPAT from continued operations.
The Bapcor Ltd share price has gained 0.35% since the beginning of the year, while the S&P/ASX 200 Index has fallen roughly 2.02%. The Bapcor share price trades at $5.67, a loss of 1.22% in the last 12 months.
