Australia's Autosports Group drops on lower half-yearly profit, weak outlook

Autosports

20/02/2025 01:52

** Shares of Autosports Group Ltd  ASG.AX  fall 6.1% to
A$1.7
    ** Stock hits lowest level since January 29 after dropping
as much as 11.1% earlier in the session
    ** The automotive dealer co reports HY profit attributable
of A$10.4 million ($6.60 million), down 70.4% from last year
    ** We continue to expect the 2H25 to be challenging for ASG,
with the market (auto dealer) yet to bottom - Citi
    ** About 371,250 shares change hands, 2.5x the 30-day
average volume of shares
    ** Stock down 4% this year as of last close


($1 = 1.5751 Australian dollars)

 (Reporting by Jasmeen Ara Shaikh in Bengaluru)
 ((Jasmeenaraislam.shaikh@thomsonreuters.com))