Shares in AP Eagers Limited (ASX:APE) rose yesterday after the automotive retailer forecast a record full year result.
After a strong trading performance in the third quarter the new and old vehicle sales company expects to deliver a net profit before tax of between $54 million to $57 million in the full 2011 calendar year.
The forecast compares to a net profit before tax of $43 million delivered the year before.
AP Eagers says following Japan’s earthquake and tsunami earlier this year there has been an increase in manufacturer marketing activities and a freeing up of vehicle supply.
Yesterday shares in AP Eagers closed 1.48 per cent higher at $10.30.
In the 2010 calendar year AP Eagers generated a net profit after tax of $19.8 million.
