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HR Owen increases revenues and profits in first half of the year

HR Owen has seen revenues and pre-tax and exceptional profits grow by 17.9% and 8.5% respectively in its interim results for the six months ended June 30, 2011.

Revenues increased to £93.1 million and pre-tax exceptional profits increased to £1.7m.

HR Owen opened its Ferrari Atelier during the first half of this year and also acquired Broughtons of Cheltenham, which takes HR Owen into the Aston Martin franchise for the first time.

Andy Duncan, HR Owen chief executive, said: “The business had a strong first half and we grew sales despite the challenging economic headwinds.

“We are particularly pleased to have grown new car sales and improved our used car margins during this tough time.

“There has been real momentum behind our new growth strategy ‘Experience is Everything’.

“There are exciting product developments to come during the second half, including the launch of the Ferrari FF and Lamborghini’s Aventador models. However, there is no room for complacency and we remain realistic about the prospects for the UK economy.”

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