MotorCycle Holdings drives acquisitions over the line - Sequoia Direct Pty Ltd

06NovNovember 6, 2019

MotorCycle Holdings drives acquisitions over the line

Australia’s largest motorcycle dealership operator, MotorCycle Holdings (ASX:MTO), has expanded its Australian footprint by completing its acquisitions of Canberra MotorCycle Centre and Melbourne Northside Harley-Davidson.

Canberra Motorcycle Centre has an annual turnover of approximately $22 million (2019), employs 44 staff and sells around 1300 new and used motorcycles per annum.

Northside Harley-Davidson has an annual turnover of approximately $9 million (2019), employs 14 staff and sells around 200 new and used motorcycles per annum.

The company expects both acquisitions to be earnings accretive in the 2019 to 2020 financial year.

Shares in MotorCycle Holdings (ASX:MTO) closed flat at $2.32 yesterday.
Copyright 2019 – Finance News Network

Source: Finance News Network

Related Posts

08JanJanuary 8, 2021

Cann Group (ASX:CAN) secures $3.2 million R&D tax incentive

08 Jan 2021 - Cann Group (ASX:CAN) has secured a $3.2 million research and development tax incentive refund.

31JanJanuary 31, 2020

Virgin Money UK (ASX:VUK) to say goodbye to their CFO

31 Jan 2020 - Ian Smith has informed the Board of Virgin Money UK (ASX:VUK) that he is resigning as Group Chief Financial Officer (CFO) and Executive Director to take up an external overseas opportunity.

23AprApril 23, 2020

Ramsay Health Care (ASX:RHC) completes $1.2 billion capital raise

23 Apr 2020 - Ramsay Health Care (ASX:RHC) has completed its $1.2 billion capital raising, issuing 21.4 million new shares at a price of $56 a share.

20DecDecember 20, 2019

Viva Energy (ASX:VEA) secures extension of Shell brand licence

20 Dec 2019 - Viva Energy (ASX:VEA) has made an agreement with Shell Brands International to extend its license of the Shell brand on retail automotive fuels in Australia.

26AugAugust 26, 2021

Stocks of the Hour: A2 Milk, Qantas & Woolworths

26 Aug 2021 - A snapshot of the stocks on the move featuring the A2 Milk company’s (ASX:A2M), Qantas (ASX:QAN) and Woolworths (ASX:WOW).

23MarMarch 23, 2021

Genex Power (ASX:GNX) executes connection agreement with Powerlink

23 Mar 2021 - Genex Power (ASX:GNX) has finalised its negotiations with Powerlink Queensland in relation to the connection arrangements for the 250MW Kidston Pumped Storage Hydro Project.

28AugAugust 28, 2023

Stocks of the Hour: Tamboran Resources, Talon Energy, Sarytogan Graphite

28 Aug 2023 - A snapshot of the stocks on the move, featuring Tamboran Resources (ASX:TBN), Talon Energy (ASX:TPD) and Sarytogan Graphite (ASX:SGA).

18FebFebruary 18, 2020

BHP (ASX:BHP) see a rise in profit, increase dividend

18 Feb 2020 - BHP (ASX:BHP) has reported a 29 per cent increase in half-year profit to $US4.9 billion, that’s $7.30 billion AUD.

17JanJanuary 17, 2023

Stocks of the Hour: Corazon Mining, Many Peaks Gold, Impact Minerals

17 Jan 2023 - A snapshot of the stocks on the move featuring Corazon Mining (ASX:CZN), Many Peaks Gold (ASX:MPG) and Impact Minerals (ASX: IPT).

11DecDecember 11, 2019

Native Title holders upgrade of Legune Station reaches first community milestone with Seafarms Group (ASX:SFG)

11 Dec 2019 - Sustainable aquaculture company Seafarms Group (ASX:SFG) has reached its first community development milestone at Native Title holders’ upgrade of the Legune Station.