Bapcor (ASX:BAP) see revenue rise 27% in first quarter

Company News

by Rachael Jones

Automotive parts, accessories company Bapcor (ASX:BAP) report revenue is up 27 per cent in the first quarter despite the lockdowns in Victoria and Auckland.

The automotive aftermarket is a resilient industry and historically has performed strongly in difficult economic circumstances.

Recent trading has seen an increase in sales of second hand cars, reduction in use of public and shared transport modes as well as government stimulus.

They envisage that the impacts of Covid-19, including the expected increase in domestic tourism and increased use of vehicles will continue to drive the Bapcor businesses.

Shares in Bapcor (ASX:BAP) are trading 4.3 per cent higher at $7.94.