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Bapcor (ASX:BAP) share price stalls despite record results
Bernd Struben | February 17, 2021 11:18am |
More on: Image source: Getty Images
Bapcor Ltd(ASX: BAP) shares are sliding in morning trade despite the company’s results for the first half of the 2021 financial year (H1 FY21) showing significant growth. At the time of writing, the Bapcor share price has slumped 3.72% to $7.76.
What did Bapcor report?
The Bapcor share price is failing to lift off this morning despite the company reporting record results for the half-year ending 31 December. The vehicle parts and services provider said revenue grew across all of its business segments.
Burson Auto Parts turns 50
Burson Auto Parts turns 50
January 11, 2021
Aussie automotive aftermarket giant to mark golden anniversary this year
Australia’s Burson Auto Parts will celebrate its 50th birthday in 2021, marking five decades of operations with a number of trade promotions and events throughout the year.
The ‘true blue’ Burson Auto Parts success story started in 1971, when company founders Ron Burgoine (the ‘Bur’ in Burson) and Garry Johnson (the ‘son’ in Burson) began selling auto parts to Victorian automotive workshops from the boot of their cars.
Since then it has become one of Australia’s biggest trade suppliers of automotive parts, tools, accessories and workshop equipment, with 190 stores nationwide, more than 1000 suppliers, 1800 staff and about 30,000 trade customers.
Shoppers canât travel but they can still spend
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People canât travel overseas but in the past few weeks they have been spending with gusto.
With the economy recovering, extra funds that people stashed away in the early stages of the pandemic are being redirected into retail after a rough year.
Deus Ex Machina retail area manager Darrell Nuqui . people have been spending up on the retailerâs high-end custom motorcycles, clothing and fashion accessories. Peter Braig
The sudden northern beaches COVID-19 outbreak in Sydney may yet put a partial handbrake on the optimism, but a robust retail injection has already occurred.
Why the Bapcor (ASX:BAP) share price is rocketing 9% higher today
Bernd Struben | December 17, 2020 10:51am |
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Bapcor Ltd(ASX: BAP) share price is soaring higher, up 9.5% to $8.01 this morning, after the company released a favourable trading update to the ASX.
What’s driving the Bapcor share price higher?
Today, Bapcor provided a first quarter 2021 trading update revealing a sharp increase in group revenue.
For the 5 months to the end of November, the company reported a rise in group revenue of approximately 26%. It indicated that a combination of lower interest rates, the contribution of Truckline (not included in the prior corresponding period) and less spending on discretionary expenses, like travel, saw net profit after tax (NPAT) achieve operating leverage.