AM Online

Jacks, Owen post healthy first-half operating profits

William Jacks, No 35 in the AM100, has posted operating profits up 114 per cent to £1.4m on turnover up six per cent to £94.4m for the first six months of the year.

Meanwhile, specialist car retailer HR Owen (AM100, No 17) posted interim profits up 35 per cent on 2001 to £2.34m, despite a £31m drop in turnover to £250.6m.

Jacks says strong new and used car sales, up 61 per cent and 32 per cent respectively, were boosted by a better than expected performance from the aftersales division, where profits rose 51 per cent on the same period last year.

Jacks chairman Dato' Tan Key Hock says the group is strengthening its relationships with key partner Ford Premier Automotive Group and hopes to conclude the purchase of a Land Rover business in Crawley from Southern Counties by the end of the month. HR Owen blames disposals, including the Mercedes-Benz showroom in London, for £31m drop in turnover.

The dealer group says it is continuing to focus on upmarket and specialist brands and strengthening relationship with fewer core manufacturers.

  • Lookers financial director Allan Marston has resigned from his position. He will be replaced by David Dyson, presently Lookers motor division finance director.

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.

Login to comment

Comments

No comments have been made yet.