Repco's profit down 43 per cent

SYDNEY - Australian automotive parts retailer Repco Corp. reported a 43 per cent slide in annual net profit as a surge in petrol prices and higher interest rates led to weaker sales.

Repco reported a net profit for the year ended June 30 of A$20.8 million ($25 million), down from A$36.5 million in the previous year. It did not declare a final dividend.

- REUTERS