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Business Description: AP Eagers Limited (APE) conducts the motor vehicle dealership operations in Australia. APE provides full facilities including the sale of new and used vehicles, service, parts and the facilitation of allied consumer finance. The company also operates a substantial motor vehicle auction business, Brisbane Motor Auctions. APE has four operating businesses namely automotive franchised retail, truck retail, property and others.
Strategy Analysis: APE's strategy is focused on maintaining its industry position through acquisition of dealerships located on strategically visible and functional properties. APE is structured through a franchise and dealership network and develops its dealership program through acquisition, property rationalisation and refurbishing existing facilities. To improve margins at each dealership, APE is focused on cost control, optimising property usage operational integration..
AP Eagers reported NPAT up 38% to $55.37m for the year ended 31 December 2012. Revenues from ordinary activities were $2.64bn, up 10% from last year. Diluted EPS was 33.2 cents compared to 25.2 cents last year. The increases in profitability and earnings per share were due to improved operational results from the company's Qld/NT, SA Cars and National Truck divisions and the inclusion for the first time of dividend income from the strategic investment in Automotive Holdings Group. Net operating cash flow was $55.64m compared to $64.52m last year. The final dividend declared was 13 cents, taking the full year dividend to 20 cents compared with 80 cents last year.
The Age 18/05/2013 |
As Australia's major retailers increase their online sales channels, pouring millions into their websites, they could face new competition from China's booming e-commerce industry.
The Age 18/05/2013 |
Most of those who take a political approach to the budget assume that if it's in deficit, the way you get it back to surplus is to cut government spending or, if you're a really bad person, increase taxes. They forget it's the budget itself that's supposed to do the heavy lifting.
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