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Quicks Group first quarter results 'satisfactory'

Quicks Group chairman Michael Moore today described trading in the first quarter of 2001 as satisfactory, with sales up and group profits growth in line with company expectations.

Total new vehicle sales have increased by 9% year-on-year, with retail sales alone up by 27%. Used vehicle sales are “in line” with last year and both new and used vehicle margins have improved.

However, profits on commercial vehicle sales have fallen as expected, said Mr Moore.

“We will cease to represent Iveco in Manchester at the end of this year and we are currently evaluating our options in the commercial vehicle market,” he said at the company's annual meeting.

Of the recent closure of two Express Factors parts businesses, he said was an “orderly response to the changing structure of the parts aftermarket and will enable us to concentrate management time on our core Ford parts distribution operations”.

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