Revenue was up 27.4 percent in first six months of fiscal year to December 31, whilst the costs of Blackstone Private Equity due diligence was over $0.9 million.
Australia’s AMA Group Ltd reported its results for the first six months of its fiscal year ending December 2017. The firm reported revenue of $228.4 million for the first six months, up 27.4 percent from the first six months of the previous fiscal year. Earnings before interest, tax depreciation and amortization (EBITDA) from continuing operations was $20.6 million, up 12.3 percent from the previous year.
According to the company, costs of due diligence related to the previously announced discussions with the Blackstone private equity firm about a possible acquisition of its collision repair operations were $0.9 million during the period.
In January , AMA confirmed that it has received a proposal from Blackstone Private Equity for its panel repair business of $530 million on a cash free, debt free basis. There is no certainty that a transaction with Blackstone or any other party will eventuate or of the nature of any such transaction.
[column width=”70″ first=”true”]During the first half of the year to December 31, AMA acquired 10 new collision centres and added four greenfield locations. Since December 31, AMA has opened two additional greenfield locations and purchased an additional seven business. AMA Group now has 106 collision repair centers in its network.[/column] [column width=”30″ last=”true”]
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