Business
Profits rebound at Australia’s biggest car dealership group – The Australian Financial Review
Investors who kept the faith in the depths of March have been rewarded with a fivefold jump in the share price of Eagers Automotive.
Eagers Automotive, which changed its name from AP Eagers earlier this year, said a combination of rebounding sales outside of locked-down Victoria, cost-cutting and the lower inventory levels at its car yards had all contributed to the higher profits.
Eagers Automotive has been a big user of the federal government’s JobKeeper program, and in March it sacked more than 1200 people as national COVID-19 restrictions came into force. It collected $62 million in JobKeeper payments, in a move chief ex…
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