Tough truck market appears to be just a speed-bump for vehicle retailer
AP Eagers expects its group profits before tax to record yet another record despite its truck sales arm’s poor performance.
Underlying net profit before tax, focused on performance rather than accounting issues, is seen as reaching $126.4 million for the financial year, up 19 per cent from last year.
“The final results are subject to completion of asset fair value assessments,” the company advises.
“Preliminary assessments indicate a likely $5.5 million non-cash impairment of the good will associated with the National Trucks division following another disappointing full year result for that division.”
Its full year result is due in four weeks’ time after an external audit review.