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HR Owen appoints non-exec director

HR Owen is to appoint Debbie Hewitt as a new non-executive director on January 1, 2009.

Until recently Hewitt was the managing director of the RAC and she has extensive executive experience in the motor industry.

John MacArthur, HR Owen chairman, said: “Debbie has a wealth of experience in both the motor and other industries, and we are delighted to welcome her as a colleague.”

Hewitt is also a non-executive director of Mouchel Group, the professional support services group, NCC Group, the IT consultancy group, Domestic and General Group Holdings, a warranty provider for domestic appliances, and Luminar Group, which is one of the UK's largest operators of nightclubs.

Break even

HR Owen revealed last week that it expects to break even this year, as the recession hits sales of sports cars.

In a statement to the London stock market, HR Owen predicted an operating loss, before exceptionals, from trading in the second half of the year.

It has taken action to reduce the turn of its used stock, leaving it with "very low used vehicle inventories" at year-end, said the statement, and the group still holds positive cash balances and has available capacity with stock funding facilities.

The London-based dealer group has showrooms for Ferrari, Maserati, Bentley, Rolls-Royce, Bugatti, Lambourghini, Alfa Romeo and Volvo.

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