May 25 (Reuters) - Automotive Holdings Group Ltd (AHG)
- Asx alert-ahg fy2017 trading update-ahg.ax
- Expects to deliver a full year 2017 operating profit after tax in range of A$87m to A$89m
- Company has undertaken a cost reduction program and will close a number of non performing businesses
- "These actions are expected to deliver pretax savings of circa $10m per annum and result in restructuring costs of circa $35m"
- Majority of these costs are noncash and will be classified as unusual in nature and will therefore impact our statutory npat for FY2017
- Second half earnings in refrigerated logistics in FY2017 are expected to be significantly higher than corresponding period in FY2016
- "Tightening conditions in automotive market have been an increasing challenge in half"
- "Focus at moment is on making structural changes , and cost reduction will be a strong focus over near term"
