Lower Finance and Insurance Commissions Weigh on AHG’s Margins, Although Outlook Remains Buoyant
Automotive Holdings’ underlying NPAT declined by 4% to AUD 41 million, although broadly in line with the trading update provided late last calendar year. This mainly reflects an approximate AUD 23 million reduction in finance and insurance gross income, which has been partially mitigated through cost reductions. The company did not provide explicit earnings guidance, given uncertainty around the timing of the pending sale of the refrigerated logistic business. Notwithstanding, we believe the out...
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