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HR Owen to stay in profit

HR Owen said last night that it still expects to post a trading profit at the end of the year, despite difficult market conditions.

The listed dealer group told investors that the outlook for the remainder of the year remains difficult to predict, but its board is satisfied the group will remain profitable.

It reported its recent proposal to surrender and lease back its Bentley aftersales site at Nine Elms has received support from 74% of shareholders, and, if passed at a forthcoming EGM, will net £1m this year for the group and up to a further £9m in future.

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