AM Online

CD Bramall reports 'creditable' results

CD Bramall today reported a slight fall in profits in its preliminary results to the year December 31, in what chairman Tony Bramall described as one of the toughest years for the motor industry.

Pre-tax profits fell to £16.03m (1999: £17.3m) and turnover fell from £843.5m in 1999 to £839.3m in 2000. New car sales were up in 2000 to 27,566 (1999: 25,567), while used car sales fell from 23,417 to 22,449.

Mr Bramall said that 2000 had ended with a return of customer confidence meaning a good start to 2001 in new and used car sales.

He said: “The year 2000 will be remembered as one of the most difficult encountered in motor retailing. In spite of the adverse circumstances the company performed creditably.”

With the return of consumer confidence, he said, trade values had “hardened considerably and prospects looked encouraging, certainly for the first half of the year”.

The car division contributed 71% of the total group net profit, before exceptionals. The truck and leasing divisions contributed the remaining 29%.

The dealerships' aftersales departments showed a combined contribution to group profit of 4.7%. Aftersales contributed 65% to the dealerships' total profits compared to 63.5% last year.

CD Bramall's leasing division contributed 12% to group profits, a reduction on 1999 caused in part by the fall in used car values.

2000 saw the CD Bramall buy nine dealerships and the relocation or refurbishment of seven others. It has bought three Land Rover dealerships this year.

If you are not a registered user your comment will go to AM for approval before publishing. To avoid this requirement please register or login.

Comment as guest


Login  /  Register

Comments

No comments have been made yet.