5th Jun 2019 08:56
LONDON (Alliance News) - AA PLC said Wednesday it was "well positioned" to deliver growth in financial 2020 after the year began with trading as expected.
Ahead of its annual general meeting later on Wednesday, the car breakdown and insurance firm said trading had been "in line" with expectations for the financial year ending January 2020. AA added its is "well positioned" to deliver growth in trading earnings before interest, taxes, depreciation and amortisation, as well as "strong" free cash flow.
For the year ended January, AA generated trading Ebitda of GBP341 million on revenue of GBP979 million. Pretax profit stood at GBP53 million.
AA added it was also well positioned to deliver its medium-term growth targets until the end of January 2023.
Shares in AA were 2.4% higher at 55.50 pence on Wednesday.
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AA..L