AP Eagers Limited
(ASX:APE) says it’s on track to match its record first half earnings achieved in 2012, for the corresponding period in 2013.
The new and used car seller is celebrating its centenary year and says although new vehicle sales are at an all-time high, increased inventory across the industry is creating some downward pressure on sales margins.
At the company’s AGM, CEO Martin Ward said he expects the fully franked dividend to increase by 25 per cent in 2013.
Mr Ward says the company will continue its efforts to improve the business over the year and may consider acquiring new companies if they meet its strategic and investment criteria.
AP Eagers posted a net profit of $55.5 million for its 2012 financial year.
