FY21 Results: The auto parts business delivered revenue today of $1.71bn up 20.4% on FY20 while NPAT of $130.1m was a rise of 46.5%. While these numbers are strong expectations were a touch higher and that’s also the story for FY22. The market had pencilled in 6% growth at the profit line while BAP are saying that FY22 should be ‘at least inline’ with FY21 with the caveat being the ongoing impact on Covid. Shares trading 5% lower approaching the close seems about right.
MM is neutral BAP similar to many of the retailers
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