Connect with us


Why the AMA Group (ASX:AMA) share price has crashed 7% today // The Motley Fool Australia



AMA Group Ltd (ASX: AMA) shares have plunged today following the release of the smash repairer’s half-yearly results for FY21.

At the time of writing, the AMA share price is trading at 65 cents, down 7.14% on yesterday’s close.

What’s weighing on the AMA share price today?

The autobody repairer announced a net profit of $4.6 million for the half-year ending 31 December. This compares to a $12.1 million loss for the prior corresponding period (pcp).

While the results look promising, they come off the back of $14.2 million net profit from the one-off sale of the ACAD and Fully Equipped businesses. The company also received $28.4 million from the Australian and New Zealand governments’ wage subsidy programs.

Employee expenses…

Click here to view the original article.

Continue Reading

You might also like ...

The Core Lithium (ASX:CXO) share price slips today
What is an ex-dividend date, and can you profit from it?