Trading Update for the 9 months ended 30 September 2020

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    Eagers Automotive Limited (ASX: APE) has recorded an Underlying Operating Profit Before Tax(1) from
    continuing operations for the nine months ended 30 September 2020 of $96.6 million, which represents
    a 45.4% increase on the prior corresponding period(2)
    In the Australian states and territories which are not currently locked down, vehicle sales have
    rebounded strongly from the historical lows experienced during April and May 2020 when nation-wide
    restrictions were in place.
    While customer orders have been strong, supply constraints caused by global manufacturer factory
    closures during the June quarter have resulted in lower vehicle deliveries to customers. The reduced
    inventory position combined with the company’s cost reduction programs, initiated following the merger
    with AHG and in response to COVID-19, have led to a strong rebound in Eagers Automotive’s underlying
    trading performance.
    The results are still subject to external audit review which will be conducted following the completion of
    the financial year ending 31 December 2020.

    courtesy of Bell Direct


    i hold APE ( 'free-carried ')

    this is currently my largest holding .. but i didn't pick this stock , i inherited some and have bought and sold some at opportune moments since 2011

  2. 3

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