Eclipx Group announces profit gains in FY2017

Company News

by Kathy Skantzos

Fleet vehicle company Eclipx Group (ASX:ECX) has announced a 23 per cent increase in group net profit after tax and amortisation (NPATA) to $68.3 million in its FY2017 results to September and said it expects to deliver further growth in FY2018.

Non-fleet acquisitions of Right2Drive and GraysOnline helped deliver the growth, with total net operating income (NOI) up 30 per cent to $255.3 million.

Cash earnings per share increased 13 per cent to 25.1 cents per share on issue of 271.5 million shares.

Dividends per share increased 11 per cent to 15.25 cents, including a fully franked final dividend of 7.75 cents.

The financial year leaves Eclipx with $275 million in available resources, including $59 million in cash and $216 million in bank facilities.

Shares in Eclipx Group (ASX:ECX) are trading 3.26 per cent lower to $4.15 a share.

Kathy Skantzos

Finance News Network
Kathy presents the Market Outlook and ASX company news. She joined FNN in September 2017. She has been in print and online journalism for over 9 years. She also worked in corporate communications.