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WeBuyCars reports double digit interim earnings growth
April 30, 2025
|The Star
WEBUYCARS Holdings' core headline earnings per share would likely increase only between 0% and 4% in the six months to March 31 after double-digit earnings growth was diluted by more shares in issue, the motor retail group said in a trading statement on Tuesday.
The share price fell 2.7% to R42.70 by midday, but the price is still more than double the R19.19 it traded at a year ago. Although WeBuyCars trades in used vehicles, the 10.5% year-on-year increase in new car sales in the first quarter to 144 426 units sold indicates a recovering vehicle market, overall.
The company said in the trading statement that its core headline earnings per share for the interim period was expected to be between 119.4 cents and 124.2 cents.
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