Australia's Bapcor slumps 35% on lower second-half profit warning

Bapcor

02/05/2024 01:28

** Shares of automotive retailer Bapcor Ltd  BAP.AX  are
down as much as 35% at A$4.21, their lowest since March 30, 2020
 
    ** Bapcor expects that second half FY24 pro-forma NPAT
results will be below first half FY24
    ** Sees pro-forma NPAT for FY24 to be between A$93 million 
($60.70 million) and A$97 million 
    ** Says it is actively working to reduce cost base to be
more appropriate for current trading environment 
    ** As of the previous close, the stock had risen 4.3% this
year



($1 = 1.5321 Australian dollars)

 (Reporting by Poonam Behura in Bengaluru)
 ((Poonam.Behura@thomsonreuters.com;))