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Cambria records growth in sales and profits after six months

The first half of car dealer Cambria Automobiles' current financial year has seen sales increase by 7.3% and underlying profit before tax rise 27%.

Total revenue has risen to £179.1m from £166.9m in the first half of the prior financial year.

Underlying profit before tax rose to £1.4m from £1.1m at the car dealer group. New vehicle sales volumes were up 13%, and gross profit increased by £0.4m but with margin reducing 0.4% due to increases in fleet and commercial vehicle sales where margins were lower.

Used vehicle sales volumes were down 5.5% but aftersales revenues increased 12.4% with gross profits increasing £0.8m.

The half-year also saw Cambria acquire its second franchises for Vauxhall and Alfa Romeo and its first with Chrysler Jeep.

Chief executive Mark Lavery said: "We are pleased to report that the important March trading period was strong and an improvement on the previous year, and that March's new retail registrations showed continued signs of recovery.

"The group's balance sheet and liquidity remains robust and we continue to identify potential acquisition targets that fit with our stated strategy.

"The board is confident after a strong March performance that the group will trade in line with expectations for the full year and is therefore pleased to announce the payment of a maiden interim dividend of 0.1p per share.

Analyst Mike Allen of Panmure Gordon said the results look decent and good progress continues to be made.



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Comments

  • Ian Jones - 29/04/2013 12:51

    Not bad result,s but it seems aftersales is the focus. As i understand they dont have a aftersales director just a couple of guys looking after it not bad job well done.

  • Iceman - 29/04/2013 19:06

    Mmmm no they are just very sales focused