Automotive Holdings Group Ltd
Boosted Capital position from acquisitions: Automotive Holdings Group Ltd (ASX: AHG) stated that it’s Share Purchase Plan has closed oversubscribed following successful completion of fully underwritten placement to raise $90 million. Automotive Holdings earlier reported a 7.2% increase in revenues to $5.25 billion in Fiscal Year 2016 and the earnings per share grew 2.4% to 28.7 cents per share, which is slower than operating profit primarily due to costs related to acquisitions and a few one-offs including impairment of assets. The statutory Net Profit After Tax grew 2.2% to $90.1 million. The stock rose over 17.62% in the last three months and still trading at a decent dividend yield.
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