Thursday, June 03, 2010
Solid profits coming from Cambria Automobiles
Cambria Automobiles has released its first set of half-year public results which show net profit margins of 1.41% on £175.9m sales.
The company, which floated on the Alternate Investments Market (AIM) in April, recorded a pre-tax profit of £2.5m in the six months to the end of February.
Revenue for the period was £175.9m, up 60% against the first half of its prior financial year. Like-for-like sales increased 58%.
Chief executive Mark Lavery said he was “very encouraged” as the group was trading ahead of the board’s expectations, and he remained optimistic about its full-year performance.
“In operating terms, the new vehicle department showed year-on-year growth of 11% in unit volume sales excluding all scrappage new car sales, and similarly the used vehicle department saw unit growth of 35%,” said Lavery.
“Aftersales revenues and gross profit increased 20% year-on-year, demonstrating that our strategy for improving aftersales contribution continues to have a positive impact.”
DATED: 03.06.10
FEED: AM
