Shares in Peter Warren Automotive rose more than 10% after it provided a trading update, but other listed auto dealers barely got out of neutral.
The company said underlying profit before tax (PBT) was expected to be about $22 million in the financial year ended 30 June 2025 (FY25), subject to completion of the results and the annual audit.
This is significantly below the $56.8 million equivalent result in the prior corresponding period, but above the forecast of between $6 million and $8 million made on 12 December, when it reported a deterioration in trading conditions.
“The improved earnings relative to prior expectations reflects an increase in seasonality from end-of-year marketing campaigns as well as actions to optimise inventory and costs,” Peter Warren Automotive said in an ASX announcement.
Further details will be provided with the announcement of its FY25 results on 21 August 2025.
At the time of writing Peter Warren (ASX: PWR) shares were 15 cents (10.20%) higher at $1.62 after trading between $1.56 and $1.68, and capitalising the company at $279.05 million.
However shares in other listed dealers barely moved with AP Eagers (ASX: APE) rising 20 cents or 0.11% to $18.69, capitalising it at $4.82 billion, and Autosports Group (ASX: ASG) shares easing one cent (0.41%) to $2.40, capitalising it at $485.85 million.
Established in 1958, Peter Warren Automotive operates more than 80 franchise dealerships representing more than 27 brands in New South Wales, Queensland, and Victoria.
