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Cambria sees profits improve by 140%

 Cambria Automobiles is on the acquisition trail for underperforming dealerships that it can turn around with its autonomous business model.

Chief executive Mark Lavery said it would be a “slow walk” through this quarter, but he expected to complete some acquisitions early in 2010.

Cambria is about to file its third year of accounts to August 2009. These will show a 140% increase in pre-tax profits, said Lavery.

“That takes into account the difficult last quarter of 2008, so we’re pretty happy,” he added.

He said the company benefited from having no costly head office and giving general managers autonomy over their dealerships.

Cambria featured in the Sunday Times Top Track 250 this month, having posted the largest sales increase of Britain’s mid-market private companies.

Its 2008 full-year earnings of £188 million were a 696% increase on the year before, helped particularly by acquisitions from Summit Auto Group and Caledonia Motor Group.

Other motor retailers listed in the Top Track 250 included Agnew Group, Carcraft, Parks Motor Group, Car Giant, Helston Garages, Motorpoint, Eastern Western Motor Group, Williams Group, Rybrook, Harwoods, TC Harrison, Gilder Group, Drive Motor Retail (Pentagon), Lloyd Motors, Mon Motors, Sinclair Group, BCA, Beadles Group, Sandicliffe, Stoneacre Motor Group and CEM Day.

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