Australia's Peter Warren Automotive soars on strong results

Peter Warren Automotive Holdings

22/02/2022 24:30

** Shares of Peter Warren Automotive Holdings  PWR.AX  jump
as much as 7.6% to A$2.85
    ** Stock to mark best session since Oct. 26, 2021, if gains
hold 
    ** Automotive dealer says HY underlying profit before tax
surged 35% to A$36.3 mln ($26.06 mln), revenue up 4% at A$777.9
mln  urn:newsml:reuters.com:*:nASX7x8LNP 
    ** Declares a fully franked interim dividend of 9 Australian
cents per share 
    ** Says acquisition of Penfold Motor Group, completed in
December 2021, will aid growth in the second half of the year,
but flags limited downward pressure on new vehicle margins
    ** As of last close, PWR down 9.6% YTD

($1 = 1.3930 Australian dollars)

 (Reporting by Harshita Swaminathan)
 ((Harshita.Swaminathan@thomsonreuters.com))