Bapcor Limited (ASX:BAP) provided trading update which showed that its business has not been as severely affected as expected due to COVID-19 restrictions. Some highlights include:
- BAP withdrew its guidance for FY20 in March
- Group’s businesses performed strongly particularly in the Retail and Burson Trade segments in Australia
- Retail segment witnessed strong demand in May and June, with Autobarn same store sales increasing over 45% from the previous year
- Bapcor’s segments that were most heavily impacted by Covid19 were New Zealand, Specialist Wholesale and sThailand.
BAP anticipates net profit after tax for financial year ending 30 June 2020 in the range of $84 million- $88 million and a moderate demand in future.