SIXTH CONSECUTIVE RECORD PROFIT FOR AP EAGERS

SIXTH CONSECUTIVE RECORD PROFIT FOR AP EAGERS
AP EAGERS (ASX: APE) will beat guidance with its sixth-consecutive record profit when it reports its full year results in late February.

In an update released to the ASX this morning, the Brisbane-based company says it will achieve a statutory net profit before tax of $141.4 million for the 12 months to 31 December 2016, an increase of 17 per cent on the previous year's figure of $121 million.

It exceeds the company's forecast profit of between $135-$140 million announced in November 2016.

Net profit before tax is expected to be $137.5 million compared to $126.4 million for 2015, which is an increase of 9%.

The final results are subject to completion of external audit review and asset fair value assessments.

The company says preliminary assessments indicate there will not be any material adjustment to profit and loss.

The result will be released on 22 February 2017, following completion of external audit review.

AP Eagers is trading up 1.13 per cent at 8.990 in eary trading this morning, on a day when the market is in the red.

Business News Australia

Help us deliver quality journalism to you.
As a free and independent news site providing daily updates
during a period of unprecedented challenges for businesses everywhere
we call on your support

Crypto staking: a new way to earn passive income
Partner Content
You may be familiar with traditional ways of earning passive income such as trading sto...
Etoro
Advertisement

Related Stories

Cromwell sells Brisbane head office to Wingate for $108.5 million

Cromwell sells Brisbane head office to Wingate for $108.5 million

As part of its strategy to sell off inessential assets, Brisbane-ba...

Record profits again for TechnologyOne as CEO touts business model resilience in tough times

Record profits again for TechnologyOne as CEO touts business model resilience in tough times

TechnologyOne (ASX: TNE) CEO Edward Chung has affirmed the company ...

Qantas acquires Byron Bay-based travel agency TripADeal

Qantas acquires Byron Bay-based travel agency TripADeal

Australia's flagship airline Qantas (ASX: QAN) has taken a majo...

John McGrath calls for calm as real estate company forecasts rise in earnings for FY22

John McGrath calls for calm as real estate company forecasts rise in earnings for FY22

Despite recent trading conditions proving disruptive for the reside...