Business
The Bapcor (ASX:BAP) share price just got upgraded again
The Bapcor Ltd (ASX: BAP) share price has steadily grinded higher this year, currently up 20% year to date. While the COVID-19 pandemic and resulting government imposed restrictions in Australia, New Zealand and Thailand had an adverse impact on its financial performance in FY20, the business expects to bounce back strongly in FY21.
Resilient FY20 performance
Despite the circumstances, Bapcor delivered a resilient FY20 performance with proforma earnings before interest, taxes, depreciation and amortisation (EBITDA) down 4.1% and proforma net profit after tax 5.5% below the record earnings achieved in FY19.
Looking ahead, the company believes the fundamentals of the vehicle aftermarket are as strong as ever. COVID-19 has…
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