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Profits steady at Benfield despite recession

AM100 dealer Benfield Motor Group has held its profits flat despite seeing revenue drop almost 10% in the downturn.

The group recorded a £3m profit although sales fell from £316m in 2007 to £287m in 2008.

Chief executive Mark Squires told Newcastle paper The Journal he aims to build turnover to £350m by 2011 through organic growth and acquisitions.

This year Benfield has already grown sales by 2%.

Source: The Journal

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