Australia's Autosports sees best day in 1 month on positive FY21 outlook

Autosports

28/06/2021 02:33

** Shares of motor vehicle seller Autosports Group Ltd
 ASG.AX  gain as much as 6.6% to A$2.6 – their biggest intraday
percentage gain since May 27
    ** Co says it expects its FY21 total revenue to be between
A$1.92 bln and A$1.96 bln ($1.46 bln-$1.49 bln), an increase of
13% to 15% on FY2020  urn:newsml:reuters.com:*:nASX9ybtmb
    ** Autosports sees its FY21 normalised net profit before tax
(NPBT) between A$68 mln and A$70 mln, up 199% - 203% on FY2020
    ** Co also entered an agreement to acquire 80% interest in
John Newell Mazda, a new- and used-vehicle dealer in Alexandria
for A$16 mln  urn:newsml:reuters.com:*:nASXk68k5
    ** Stock hits its highest level since June 18
    ** ASG on track to post a second consecutive session of
gains; up 68.3% this year, as of last close
    ($1 = 1.3175 Australian dollars)

 (Reporting by Aditya Munjuluru in Bengaluru)
 ((aditya.srivastsav@thomsonreuters.com))