Friday, October 22, 2010
HR Owen sales rise 5.5% in September
New car sales at HR Owen, the London-based prestige group, rose by 5.5 per cent in September.
In its interim management statement the group said trading “remained challenging” although year-on-year sales during the plate-change month increased.
“Both used cars and aftersales continue to operate ahead of internal expectations,” it said.
“The group will remain in profit at the trading level for the second half of the year.”
The group has seen changes to its management team this year with the departure of long standing chief executive Nick Lancaster, and high profile board members including Pink Floyd’s Nick Mason, and the subsequent appointment in September of his replacement Andy Duncan, the former boss of Channel 4.
The group said the strategy review, initiated earlier this year by chairman Jon Walden, will be released in time for its full year results in March 2011.
“The board recognises that significant challenges lie ahead but is confident that the group’s unique portfolio of luxury brands and a strengthened management team will provide a strong platform for the future development of the group.”
DATED: 22.10.10
FEED: MT
