Australia's Autosports hits record low on lacklustre earnings outlook

Autosports

29/01/2025 02:50

** 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;))