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Upbeat HR Owen confident of beating market expectations

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Luxury car dealer HR Owen has reported that the momentum it generated during the first half of 2012 has continued into Q3.

In an update to the London Stock Exchange this morning, it said the company is trading ahead of management's expectations.

"Accordingly, the board expects that the full year profit at the trading level
will be ahead of current market expectations. We continue to enjoy a strong
balance sheet with positive cash balances ahead of budget," it added.

The past two years have seen significant efforts to stabilise HR Owen, with chairman Jon Walden bringing fresh talent to its board including chief executive Joe Doyle, formerly of HPI and Audatex.

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