GUD shares jump 9% on announcement of FY24 EBITA forecast being on track
May 14, 2024 - $GUD Holdings Ltd (GUD.AU)$ shares today surged by 9.21% to reach A$10.670, after the company confirmed that Group FY24 underlying EBITA is in line with expectations and is forecasted to be at least A$193.5m.
-Automotive segment contributed to 61.19 of the total revenue
-Auto Pacific Group (APG) segment contributed to 27.21% of the total revenue
-Davey segment contributed to 11.61% of the total revenue
-The Automotive segment continues to trade well across all its key business units, and end user workshop demand remains positive.
-The APG segment is anticipated to yield A$3 million less than what GUD had initially projected at the release of the FY24 H1 results, due to slower recovery in the NZ market and the impact of lower Toyota volumes.
About Company
GUD Holdings owns a portfolio of brands in Australia and New Zealand across two business segments: automotive and AutoPacific. The automotive segment, which constitutes the vast majority of earnings, distributes aftermarket automotive spare parts, including filters, gaskets, brakes, lighting, and electronic accessories under brands such as Ryco, Wesfil, and Narva. AutoPacific Group, or APG, designs, manufactures and distributes 4WD and trailering accessories.
Source: Asx
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