Automotive Holdings Group

Automotive Holdings Group has reported a decline in operating profit for the 2018 financial year, citing weakening demand in Western Australia despite positive economic indicators.

Stan Perron and Michela Fini won individual awards at the second annual State Arts and Culture Partnership Honours announced last night.

Automotive Holdings Group’s shares have slumped to their lowest point since 2012, after the company’s trading update revealed that profit at the start of this financial year was lower than anticipated.

The downfall of RCR Tomlinson is another reminder of the dangers of a business getting out over its skis.

SPECIAL REPORT: There has been a notable reduction in the number of high-earning executives in WA, though some individuals do well year after year, research by Business News has found.

The final months of 2018 hit investors in Western Australian stocks hard, with the Business News index of 30 local ASX-listed companies falling 13.3 per cent.

Gold miners with Western Australian operations are providing a strong return to investors, making up 35 per cent of the top 20 performing stocks in the S&P/ASX 200 for the past three months.

Automotive Holdings Group has announced a series of write-downs and restructuring expenses totalling $264 million as it adjusts to tougher conditions in both its automotive and trucking businesses.

Automotive Holdings Group has skidded to a first-half loss, scrapping its dividend and cutting its guidance after a flagged $223 million write-down against its struggling car yards and refrigerated logistics business.

Automotive Holdings Group has slipped out of the benchmark S&P/ASX 200 index, while six Western Australian companies have moved into the S&P/ASX 300 index.

AP Eagers has made a takeover bid for Automotive Holdings Group, which values the struggling West Perth-based car retailer at around $635.4 million.

A flurry of hostile takeover deals has provided a boost for corporate lawyers, with an expectation there are more on the way.

Automotive Holdings Group has urged shareholders to sit tight on a $2.42 billion takeover offer from rival vehicle retailer AP Eagers, warning they may be disadvantaged if they agree to sell before the “highly conditional” deal is approved.

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.

AP Eagers has increased its provisional stake in takeover target Automotive Holdings Group, the second time in less than a week, to 42.62 per cent.

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.

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.

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.

The Australian Competition and Consumer Commission says it has concerns about AP Eagers’ $2.3 billion takeover of Automotive Holdings Group, due to a potential impact on competition in new car retailing in NSW.

AP Eagers has offered to sell dealerships in Newcastle and the Hunter Valley region, as it aims to assuage the Australian Competition and Consumer Commission’s issues with its proposed acquisition of rival Automotive Holdings Group.

The competition watchdog has accepted AP Eagers' proposed takeover of rival car dealer Automotive Holdings Group, on the condition AP Eagers sells its dealerships in Newcastle and the Hunter Valley region.

Takeover target Automotive Holdings Group will pursue the sale of its refrigerated logistics business after a strategic review found it had overstated revenue in the underperforming unit.

Automotive Holdings Group has suffered a loss of $232.6 million for the 2019 financial year, following major asset write-downs to its automotive and refrigerated logistics businesses during the period.

Perth-based Perron Group has bolstered its management team with the recruitment of a dedicated chief financial officer, while also appointing a general manager of governance, taxation and risk in a new role for the company.

Auto dealer A.P. Eagers has succeeded in acquiring more than 90 per cent of all Automotive Holding Group shares, reaching that important threshold just hours before its offer expired.

Programmed has announced a partnership with Perth Symphony Orchestra (PSO), the first major arts organisation the business has partnered with.

A quarterly rebalancing of S&P/ASX indices has resulted in South32 being relegated from the top 20 index, and Galaxy Resources being dropped from the top 200 index.

Michelle Prater (nee Wheatley) brings a unique perspective to the natural tension between landlords and tenants in the current market - she is a director of the country's largest car dealer and one of their largest landlords.

Australia's largest car dealership chain says it laid off 1,200 employees last month as an initial response to the COVID-19 pandemic and associated lockdowns.

Sales of MG cars have rocketed higher this year, pushing the famous marque into the state’s top 10, though the Chinese manufacturer is very different from the MG of old.

Adam Irving will start on July 1 as Perron’s current chief executive and managing director, Ross Robertson, retires.

Automotive Holdings Group is facing legal action over claims it failed to disclose a simmering stoush before inking an $18 million takeover deal with European manufacturer KTM.

The six-building complex is planned for the site of the former City Motors car dealership.

A developer will turn a rundown West Perth site into a $107 million hotel and apartment complex after receiving unanimous support from an assessment panel.

The man who built Automotive Holdings Group into the country’s largest dealership group has passed away at the age of 89.

The falling iron ore price has had a big impact on WA’s wealthiest.

With the Georgiou family close to selling its namesake company, we look back at major family business sales in WA and how much they raised.