Thursday, December 06, 2007
Caffyns ‘should be doing better’
Industry insiders are critical of the slow progress made by Caffyns, half way through its three-year recovery programme.
Turnover in the half-year to September 30 was £94.991 million, up from £85.484 million year-on-year, but profit before tax at 0.8% compared with 0.7%.
“Caffyns has good brands in good locations, and should be doing much better,” says one consultant. “The group has three Audi centres – at Brighton, Eastbourne and Hove – which alone should be contributing £1 million in profit.”
Two years ago, Caffyns reported tumbling profits, mainly as a result of failing to take action ahead of the collapse of MG Rover, unlike other groups which reduced their exposure.
DATED: 06.12.07
FEED: AM
Turnover in the half-year to September 30 was £94.991 million, up from £85.484 million year-on-year, but profit before tax at 0.8% compared with 0.7%.
“Caffyns has good brands in good locations, and should be doing much better,” says one consultant. “The group has three Audi centres – at Brighton, Eastbourne and Hove – which alone should be contributing £1 million in profit.”
Two years ago, Caffyns reported tumbling profits, mainly as a result of failing to take action ahead of the collapse of MG Rover, unlike other groups which reduced their exposure.
DATED: 06.12.07
FEED: AM
