Ahead of its AGM later today, Autins has issued a trading update which points to strong progress in the first 5 months of its financial year with pre-tax losses reducing significantly YoY (£258k loss vs £714k in the prior year). This is the direct result of management action as it successfully executes its “Survive and Thrive” strategy. However, Jaguar Land Rover’s (JLR) recent cyber-incident and ongoing production shutdown has materially disrupted near-term operations. We leave our forecasts unchanged pending further clarity on JLR’s restart plans.
