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Caffyns 'has had encouraging start to new financial year'

South of England dealer group Caffyns is holding its AGM today where chairman Richard Wright will state the company has made "an encouraging start" to the current financial year.

"In the trading quarter to June 30 2014 we increased new car unit sales on a like for like basis by 3.9%, despite four of our thirteen showrooms being out of commission due to refurbishment upgrades," he said in an interim management statement already released to the London Stock Exchange.

"Used car unit sales increased on a like for like basis in the quarter by 14.2%, on top of a strong increase in the corresponding period of the previous year of 18%. Aftersales revenues were up by 4.2% on a like for like basis."

Wright said the refurbishment at Caffyns' Vauxhall dealership at Ashford was completed during the quarter whilst those at its Audi Eastbourne branch will be completed in August and at our Skoda and Seat dealership at Tunbridge Wells in September.


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