In a trading update provided today, A.P. Eagers Limited (ASX: APE) informed that the external trading conditions in the national automotive retail sector remain challenging. For the 10 months ended 31st October 2019, national new vehicle sales were down by 8% on the previous corresponding period (pcp).
Due to these headwinds in the market, A.P. Eagers’ underlying operating profit before tax (PBT) for the 10 months ended 31st October 2019 is down by 6%.
Although the core business is been affected by the external conditions, one segment is considerably underperforming. EasyAusto123 added a loss of $2.5 million despite its performance increasing over the 4-month period against the pcp.
By AEST 1:01 PM, APE’ shares were trading at $10.990, down by 7.257% from last day close.
There is no investor left unperturbed with the ongoing trade conflicts between US-China and the devastating bushfire in Australia.
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