ReutersReuters

Australia's Bapcor slumps to lowest level in more than 5 years after flagging weak HY

RefinitivMeno di 1 minuto di lettura

** Shares of Bapcor BAP fall as much as 31.3% to A$3.51, their lowest level since March 26, 2020

** Auto parts supplier says its second-half trading performance was below expectations, with weak sales during May and June

** Posts 1.4% decline in total annual unaudited revenue to A$1,944.3 million ($1.28 billion)

** Says performance hit by disruptions in Specialist Wholesale segment, NZ macroeconomic landscape and supply issues

** The update suggests conditions are significantly more challenging than expected - Citi

** Say it is difficult to see the stock as investible right now

** Bapcor stock top pct loser on the S&P/ASX 200 XJO index, which is trading flat

** YTD, shares down 19.1%

($1 = 1.5156 Australian dollars)

Accedi o crea un account gratuito per leggere queste notizie