Automotive Holdings Group has downgraded its profit guidance for 2019 due to weak car sales and the performance of its refrigerated logistics division, a week after it recommended an improved takeover offer from rival auto retailer AP Eagers.
Car sales in Western Australia might have been down again in April but there’s a sense of optimism about the Australian luxury vehicle market at Lamborghini, as the brand positions itself for two major automotive trends.
Automotive Holdings Group’s $2.3 billion takeover from rival AP Eagers is set to go through, after AHG urged its shareholders to accept a revised offer from AP.
AP Eagers has acquired a provisional majority stake in Automotive Holdings Group, just a week after AHG told shareholders not to accept the offer until it released its target statement on May 8.
Perth's grocery wars, amplified by giant Aldi’s market push and price cuts by Coles and Woolworths, have claimed five struggling smaller supermarkets over the past five months.
AP Eagers has increased its interest in Automotive Holdings Group by 9.15 per cent, as the takeover target appointed a former KPMG and Ernst and Young partner as its new chairman.
From expensive surgery to photo shoots and elaborate cremations, the multi-billion-dollar Australian pet industry is producing novel and profitable services.
ANALYSIS: As many retailers struggle to deal with the internet revolution, Wesfarmers is undertaking two significant experiments in managing the disruptive influence of online trading to bricks-and-mortar businesses.
Coles is offloading management of its 87 pubs, including four in Western Australia, in a $200 million deal with private equity controlled Australian Venue Co.
One of Perth’s most prominent fashion designers has announced the closure of an internationally successful label, but hinted at plans for something big in the pipeline.
Menswear retailer Ed Harry, which employs 93 staff across 19 stores in Western Australia, has been placed in voluntary administration with an immediate clearance sale of merchandise coming into effect as creditors assess the business.
SPECIAL REPORT: Three businessmen will have more impact than most on the state’s economic future, with Peter Coleman leading an oil and gas revival, Chris Ellison building a lithium empire, and Rob Scott reshaping Wesfarmers.
Cash Converters International has appointed Bank of Queensland's Sydney-based group executive, Brendan White, as its new chief executive, starting in March next year.
