Peter Warren Automotive Holdings Ltd (AU:PWR) has released an update.
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Peter Warren Automotive Holdings Ltd reported a 19.4% revenue increase in FY24, rising to $2.475 billion despite a challenging automotive market with new car margins under pressure. The company’s underlying profit before tax fell 30.6% to $56.8 million, influenced by higher inventory levels and increased interest costs. In response to the tough market conditions, Peter Warren focused on inventory management, cost control, and margin improvement initiatives to mitigate the impact of lower new car margins.
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