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Just Car Clinics 'record' results

Just Car Clinics Group, the independent collision repair chain with 13 vehicle collision repair centres, has reported record preliminary results for the year ended December 31, 2005.

Turnover is up 5.9% to £24.86 million (2004: £23.46 million), operating margin improved from 2.4% to 3.1%, profit before goodwill amortisation and taxation is up 50.4% to £692,000 (2004: £460,000) and operating cash flow strong at £1,193,000 (2004: £710,000).

The results have put the company in a strong position on the acquisition trail.

Barry Whittles, chief executive, said: "I am delighted with these record results. The group has continued to build on its successes with improvements in volume and margins and the majority of our locations have achieved a satisfactory level of profitability. We are in a good position to grow strongly and continue to actively seek acquisition opportunities as well as looking at potential green-field sites."

The group is looking to increase the number of trading locations and the board has therefore been actively seeking acquisition opportunities. A number of potential locations have been investigated during the last six months. Some negotiations are still in progress.

The company said: "The board will continue to investigate acquisition opportunities, but has also decided to look at potential green field sites. The focus will be on reducing the period between start up and the site becoming profitable and locations will be identified that could be opened initially with relatively low overheads but have the opportunity for expansion as the business develops."

Trading during the first two months of 2006 has been 'in line with expectations'.

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