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Investors have been buying the company’s shares today after it released a trading update for the nine months ended 30 September.
According to the release, Eagers Automotive, formerly known as AP Eagers, recorded an underlying operating profit before tax from continuing operations of $96.6 million for the nine months.
This represents a sizeable 45.4% increase on the prior corresponding period.
This is all the more impressive when you consider that Eagers Automotive’s first half underlying operating profit before tax was down 24% to $40.3 million.
Based on this, it would appear as though third quarter underlying operating profit before tax was $56.3 million, which is 39.7% greater than what it achieved in the entire first half. |
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