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Cambria says new car sales up 15.7% and margins "strong"

Dealer group Cambria said today its full-year results look set to be ahead of current market forecasts and it continues to "perform well".

Its trading update said: "Trading in the first 11 months of the 2013/14 financial year has been substantially ahead of the corresponding period in 2012/13. 

"New vehicle unit sales, excluding the recently acquired Land Rover and Jaguar business in Barnet, increased by 15.7%, outperforming the overall market which rose by 10.6%, and margins remained strong. 

"Used vehicle sales also performed well; unit sales were 3.2% ahead of the same period in the prior year with a gross profit per unit improvement of 5.9%. 

"Growth in the group's aftersales operations also continued with a profit increase of 4.3% year-on-year."

The group said the integration of the Land Rover and Jaguar is progressing well with the management "encouraged with the potential of this business, which is expected to make a considerable contribution to Cambria's performance in 2014/15 and beyond".

Cambria bought the Barnet business from Lookers in July.

Ahead of the September plate change it said its new car order book was ahead of the same point last year.

> Cambria will announce its preliminary results for the year ended August 31, 2014 on November 25.  



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