Bapcor Limited (ASX: BAP) is a leader of automotive aftermarket parts, accessories, equipment and services. It operates in a competitive environment and provides customer service, innovation and extensive product range. The company covers trade, retail, and specialist wholesale businesses.
Greenfleet is a leading environmental not-for-profit organisation. Its mission is to protect the climate by restoring forests. Since 1997, Greenfleet has successfully restored more than 500 native bio-diverse forests. This has been a result of the plantation of more than 9.2 million native trees across Australia and New Zealand. Its projects are funded by individuals and businesses who are supportive of its cause, and the funding is done via carbon offsets or donations.
On 14th May 2019, the company announced that it had teamed up with Greenfleet with the intention to plant native forests across Australia. The motive of this collaboration was said to lessen the greenhouse gas emissions, connected with BAP’s company fleet. More than 5,250 tonnes of greenhouse gas emissions would be captured through the planting of above 19,750 native trees.
When the trees are growing, they tend to absorb carbon emissions, and they are the main contributor to weather alteration resilience. Greenfleet forests also help to cope up with the adversities of deforestation. These forests decrease salinity and soil erosion and offer healthy habitat for native wildlife, which also includes several endangered species.
The new partnership demonstrates BAP’s optimistic concentration towards social responsibility and sustainability of the corporate. The company would provide donations to Greenfleet to proceed with the needful. This would help in revegetating the zone, spread across more than 9 times the MCG situated in the Melbourne region.
The Chief Executive Officer, Darryl Abotomey stated that the company was happy to team up with Greenfleet to aid in Australia’s local reforestation projects since they offer an array of advantages related to the environment.
Besides this, BPA would also contribute to the climate change project in Nardoo Hills Reserve in the Victoria region. This project is focussed on the protection of Eucalypt species which are threatened by the climate. Greenfleet, on the other hand, would be taking up projects in Border Ranges National Park in NSW targeting the restoration of habitat for native wildlife population, consisting of the local koala population as well. It would be further taking up a joint project with Parks Victoria to assist in the restoration of vegetation at the Plenty Gorge, with plants widespread in the zone.
As per the BPA’s presentation (created for presenting it in Macquarie Conference) released on 29 April 2019, the financial highlights of H1 FY2019 of the company were mentioned as follows:
On the operations front, the NPAT growth was negatively impacted by 2.5%, as a result of the divestment of TRS on 3 July 2018. Also, the BAP highlighted that there were good revenue and profit in the trade, Bapcor NZ and specialist wholesale segments. However, the retail and service profit were flat during the H1 FY2019 period. Further, the company mentioned that the intercompany sales were up by 37%.
For FY19, Bapcor has forecasted an increase NPAT of circa 9%, which is above its FY18 proforma NPAT, which was circa $94.3million.
Share Price Information:
The stock of the company is currently trading at A$5.580 (as on 15 May 2019, 12:23 PM AEST), up by 1.447%.
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