Bapcor shares slip after 'challenging' second-half period
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More news: Bapcor shares were down in morning trade after the vehicle parts provider flagged a rocky trading period in May and June.
The company's shares were down 1.8% to $3.87 at 11:20am AEST, taking 12-month losses to 20.2%.
RBC Capital Markets’ analyst Jack Lynch said Bapcor's full-year update, which was largely pre-reported, highlighted higher second-half operating deleverage in its trade segment, and implied decelerating like-for-like sales across its retail and New Zealand divisions.
Specialist wholesale earnings were a positive, he noted, showcasing the company's improved cost position.
What they said: "...we believe the market could take this cautiously given no outlook was provided and the segment had a challenging May/June period," Lynch said.
Bapcor returns to full-year profit, but revenue and dividends slide
The news: Autobarn owner Bapcor returned to a net profit in fiscal 2025, having slumped to a $158.3 million loss last year, as significant items reduced from $253 million to $52.3 million.
The numbers: The auto parts supplier reported net profit after tax of $28.1 million, short of market estimates of $46.2 million, according to Visible Alpha figures.
Full-year statutory revenue came to $1.98 billion, down 3% year on year, but above average forecasts of $1.95 billion.
Bapcor will pay total dividends of 13.5 cents per share, down from 15 cents per share last year. Analysts had expected a payout of 13 cents per share.
The context: Executive chair and CEO Angus McKay said FY25 was "the start of a strategic re-set for the company." Bapcor focused on simplifying its operations and reducing its cost base during the period, he noted, including exiting or relocating 70 sites.
What they said: "While this activity caused considerable disruption to our operations which impacted trading performance, they were necessary to drive business simplification, drive a more customer-led business and strengthen the company's core business for future growth," McKay said.
The source: ASX
