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.
Established in 1997 by Geoff Wilson, we are an independently owned investment manager based in Sydney. Today, Wilson Asset Management is comprised of ten investment professionals who offer a combined investment experience of almost 100 years.