Super Cheap expect $38m profit

Super Cheap Auto Group Ltd says it expects an annual net profit of about $38 million.

AAP

AUTOMOTIVE parts and accessories retailer Super Cheap Auto Group Ltd says it expects an annual net profit of about $38 million.

The company said that subject to the finalisation of end of year accounting entries, Super Cheap expects to achieve net profit after tax for the 53 weeks to July 3, 2010 in the vicinity of $38 million.

The company's profit at the same time last year was $32.1 million.

"This forecast includes the expensing of $1.7 million of stamp duty and other costs associated with the Rays Outdoors acquisition as required under accounting standards introduced in FY10," it said in a statement on Friday.

The retailer will announce its profit results on August 25.