Overall markets are expecting revenue to rise by 8%, EPS to drop by 15% and DPS to decline by 32%.
In June, BAP released a trading update, withdrawing its previous FY20 guidance due to COVID uncertainties. It stated that its trade and retail segment had strong demand in May and June, with its wholesale and New Zealand segments affected most by COVID.
While there are continued risk in the near-term as a potential resurgence in COVID outbreak could impact its wholesale and New Zealand segments (the New Zealand segment headwinds have already started, with lockdown imposed again last week), the automotive parts and services industry is fairly resilient and non-cyclical due to the fact that car maintenance and service is an essential thing.
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