GUD Holdings (ASX:GUD) buys Australian Clutch Services

Company News

by Melissa Darmawan

Automotive company GUD Holdings (ASX:GUD) reports their NPAT is up 17.6 per cent to $31.3 million for the half year compared to the prior corresponding period.

The results were attributed to buying AMA Group’s Automotive Components and Accessories Division in December and help from Jobkeeper.

The company yesterday entered into an agreement to acquire 100 per cent of the shares in the businesses of Australian Clutch Services and subsidiaries XCLUTCH USA Inc and Australian Clutch Services NZ for an enterprise value of $32 million.

The company will be paying an interim fully franked dividend of 25 cents paid in March.

GUD Holdings (ASX:GUD) are trading 0.39 per cent higher at $12.83.