Eagers shares moves up following the release of its market update

Eagers Automotive Limited (ASX: APE) has released market update for half year ended 30 June 2022. The Company highlighted that it expects to report Statutory NPAT for 1H 2022 to be AU$246 million, exceeding the profit guidance given on 18 May 2022.

Underlying Operating Profit After Tax from continuing operations for 6 months ended 30 June 2022 is projected to be ~AU$195 million compared to the previous profit guidance range in between AU$183 million and AU$189 million, which was given on 18 May 2022.

Eagers has maintained a strong financial position and has available liquidity of AU$843 million and net corporate debt of AU$13 million.

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