EuroSports

EuroSports: Counter in top volume today on 6% rise in share price to $0.255. Latest corp update was on 17 Mar when group completed the sale and leaseback arrangement relating to its premises at 30 Teban Gardens Crescent, paving the way for Eurosports to declare a one-time special dividend of between $6m and $8m (2.26¢-3.02¢ a share) for FYMar15. Bloomberg estimates FY14 results may be out on 15 May; Recall earlier in Feb, market watchers noted that luxury car sales have stalled, with sales in 2H13 plunging by 85-92% for top tier brands like Lamborghini, Aston Martin, Rolls Royce and Ferrari. This bodes negatively for Lamborghini distributor, Eurosports, which saw Lamborghini sales plunge from 20 in 1H13 to just 3 in 2H13. The slump came on the back of two measures that rocked the industry: a tiered Additional Registration Fee (ARF) that raised the cost of a high-end car by as much as $450,000; and a loan curb that capped borrowing at 50% of a car's purchase price, to be repaid in five years.