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Automotive Holdings lifts H1 profit 25%

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AAP

2013-02-18

Car parts retailer and logistics group Automotive Holdings has lifted its first half profit by a quarter and predicted a solid finish to the financial year.

The group's net profit rose to $37.9 million in the half year to December 31 from $31.8 million in the previous corresponding period.

Revenue was also up 13.5 per cent to $2.2 billion.

Managing director Bronte Howson said the automotive division was expected to deliver a strong second half result thanks to strong orders.

The company was also investing in new facilities for its logistics division to support growing demand for increased cold storage.

"We believe the company's strong balance sheet, experienced management team and diversified business model positions AHG to deliver ongoing solid financial performance," he said.

The company's lifted its fully franked interim dividend by one cent to eight cents a share.

Its shares closed 16 cents higher at $4.10.