Eclipx Group's AUNZ business still reflecting impact from pandemic - Macquarie

FleetPartners

14/03/2023 05:19

** Analysts at Macquarie say trends in Eclipx Group's
 ECX.AX  Australia and New Zealand business, Custom Fleet, is
consistent with those of other AUNZ auto finance companies
    ** Co's Australia and New Zealand business, Custom Fleet,
announced record 2022 operating income of C$624.5 million
($454.74 million), up 22% from a year earlier
    ** Brokerage says that the trends noticed in custom fleet is
consistent with those of other AUNZ auto finance companies
    ** Adds, Custom Fleet's performance continues to reflect
impact of the pandemic as vehicle supply remains constrained
    ** Macquarie retains 'Outperform' rating on ECX and keeps PT
at A$2.28
    ** Stock currently down 1.9%
    ** Stock has risen 5.8% this year, as of last close

($1 = 1.3733 Canadian dollars)

 (Reporting by Rishav Chatterjee in Bengaluru)
 ((Rishav.Chatterjee@thomsonreuters.com;))