AP Eagers races into profit upgrade
On Wednesday car dealerships business AP Eagers (ASX: APE) announced it will achieve a record profit for the 2015 financial year. The company said it expects to report an underlying net profit of $126.4 million for 2015, which is 19% higher than the $106.2 million posted in 2014. The results reflect 2015 being one of the strongest years on record for new cars sold in Australia. AP Eagers shares closed up 3% for the week. We own AP Eagers in the investment portfolio.
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Wilson Asset Management has a track record of making a difference for shareholders and the community for more than 20 years. As the investment manager for eight leading LICs – WAM Capital (ASX: WAM), WAM Leaders (ASX: WLE), WAM Global (ASX: WGB),...