Repco sticks to guidance despite results...

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Auto parts dealer Repco Corp Ltd says its first quarter trading has been variable but it still expects low double digit sales growth for the 2005/06 year.

In slides to be presented by Repco managing director Peter Mummery at the company's annual general meeting, Repco said September trading had been subdued.

It said the impact of high fuel prices remained unclear and the second quarter, comprising the important Christmas period, would be key.

Repco said its guidance for 2005/06 continued to be for low double digit sales growth and earnings before interest, tax, depreciation and amortisation (EBITDA) growth above sales growth.

It expects a dividend payout ratio of at least 60 per cent, it added.

The Melbourne-based retailer's net profit rose 29 per cent to $38.4 million in 2004/05, with its sales rising 9.5 per cent to $862.3 million.

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