Australia's Bapcor falls on missing profit estimates

Bapcor

17/10/2023 03:07

** Shares of Bapcor  BAP.AX  fall as much as 10.9% to
A$5.950, their lowest level since June 30, 2023
    ** Stock on track for worst day since March 23, 2020, if
losses hold
    ** Automotive parts provider says YTD pro-forma net profit
after tax (NPAT) at end of September is behind expectations
    ** Says shortfall to YTD NPAT is in mid-single digit mlns of
dollars
    ** However, co expects a solid underlying performance in
FY24
    ** About 1.2 mln shares change hand compared to 30-day
average trading volume of 941,921 shares
    ** Bapcor up 3.4% YTD as of last close

 (Reporting by John Biju in Bengaluru)
 ((John.Biju@thomsonreuters.com;))