GPC reports record Q1

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Genuine Parts Company (GPC) has reported a record set of Q1 results.

SP Richards (SPR)’s parent company revealed earnings up 6 per cent to $106.6 million, or EPS of $0.61, on sales of $2.34 billion, up 7 per cent on last year.

SPR’s operating profit rose from $43.8 million to $46 million, while sales lifted 6 per cent.

GPC’s chairman and president/CEO Tom Gallagher said: "As we look forward, we continue to feel that market conditions are favourable for each of our businesses and we are positioned to have another good year in 2005."