egolinews.com

$22.8 million profit before tax for half year Consistent with previous record result A. P. Eagers Limited ( APE) has confirmed that its profit before tax for the June 2010 half year was consistent with the company’s previous record half year result. The company’s 2010 half year profit before tax (unaudited) was $22.8 million.

This includes costs relating to the acquisition of new businesses of $0.7 million which would have been capitalised in previous years but were expensed in 2010 in accordance with the revised international accounting standard. The 2010 result is therefore in line with the previous record half year result of $23.1 million which was achieved for the June 2009 half year. As reported previously, the June 2009 half year result included the initial positive impact of the federal government’s economic stimulus measures announced in the May 2009 federal budget, most notably the 30% investment allowance. Matching the 2009 record half year result in 2010 is viewed as a creditable achievement, particularly during a period of rising interest rates and increased retail competition as industry vehicle inventory returned to more normal levels. The company’s final audit reviewed result for the June 2010 half year will be released in late August.

For more information, contact: Martin Ward Chief Executive Officer (07) 3248 9455 or visit: www.apeagers.com.au.

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