Eclipx holds AGM reaffirms 2019 profit guidance

Company News

by Anna Napoli

Fleet management company, Eclipx Group (ASX:ECX) has addressed shareholders at its AGM with the board unanimously endorsing the companies merger with McMillan Shakespeare.

The $900 million merger remains subject to court and shareholder approvals.

For the 2018 financial year the Group reported group net profit (after tax) of $78 million a rise of 14 per cent.

Chairman Kerry Roxburgh says while it's not the result the company was hoping for he regards it as a solid earnings performance in challenging conditions.

The company recently confirmed its guidance for net profit for the financial year 19 broadly in line with its 2018 result.

Shares in Eclipx Group (ASX:ECX) closed Shares closed 0.84 per cent higher to $2.40.

Anna Napoli

Finance News Network
Anna joined FNN February 2018 and also works with Channel 7 as a freelance producer. Anna has also worked as a lawyer and lecturer. She has also presented news updates for interstate news with Southern Cross Austereo.