Repco posts healthy profit in tough market

Australasian car parts retailer Repco has shrugged off tough competition and a sluggish repair market to post a 30 per cent increase in full-year profit.

The company recorded a net profit of A$38.4 million ($42.8 million) for the year to June 30. Operating profit rose 15.7 per cent to A$82.4 million - in line with earlier forecasts.

Shares in the dual-listed company, which will pay a final dividend of 7.5Ac on October 10, last traded on the New Zealand Exchange up 5c at $3.35.