In an announcement to the Australian Stock Exchange, AP Eagers managing director and CEO Martin Ward said a net profit before tax – to be announced next month – will be “approximately $67.8 million”.

Compared to last year, this figure represents a 14 per cent increase over the $59.5 million recorded in the first six months of 2015.

Mr Ward said the final results for the first half of the year are subject to completion of an external audit review and will be released on August 24.

This month AP Eagers completed its acquisition of the Crampton Automotive Group in Queensland that was announced in January.

This group includes Toowoomba Holden (Holden, HSV and Performax) and West-Star Motors (Mercedes-Benz, Hyundai, Peugeot and Citroen) in Toowoomba, and Port City Autos (Holden, Subaru, Chrysler Jeep Dodge, and Isuzu Trucks) in Maryborough/Hervey Bay.

The company stated that this acquisition enhances its strong presence in Queensland’s southwest region, which was first established with the acquisition of the Black Toyota group in 2014.
AP Eagers said “it also provides an opportunity for further expansion in the growing Hervey Bay region”.

By Neil Dowling