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Autosports Group Ltd ( (AU:ASG) ) just unveiled an update.
Autosports Group Limited has announced an agreement to acquire ten Barry Bourke Motors dealerships in Victoria for approximately $34 million, with expected FY25 revenue of $212.4 million. This strategic acquisition aims to enhance collaboration with brands like Audi, Jaguar Land Rover, and Volvo Cars, secure flagship locations in key markets, and is anticipated to be immediately earnings accretive. The acquisition will be managed by Autosports Group’s subsidiary, Autosports Castle Hill Pty Ltd, and involves a mix of cash and ASG shares. The move is expected to improve business margins to align with Autosports Group’s average within the first year, reflecting a significant expansion of their presence in Victoria.
The most recent analyst rating on (AU:ASG) stock is a Hold with a A$3.50 price target. To see the full list of analyst forecasts on Autosports Group Ltd stock, see the AU:ASG Stock Forecast page.
More about Autosports Group Ltd
Autosports Group Limited (ASX: ASG) is Australia’s only ASX-listed specialist prestige and luxury automotive retailer. The company operates over 75 businesses in key metropolitan markets across Australia and New Zealand, offering a range of services including new and used vehicle sales, finance and insurance services, aftermarket products, spare parts, vehicle servicing, and collision repair services. Since its inception in 2006, Autosports Group has expanded from a single luxury dealership to a diversified automotive group representing premier luxury and prestige brands.
Average Trading Volume: 469,248
Technical Sentiment Signal: Buy
Current Market Cap: A$879.6M
For detailed information about ASG stock, go to TipRanks’ Stock Analysis page.