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Cambria Automobiles says it expects a strong March performance

Cambria Automobiles, the car dealer group with showrooms trading as Grange, Doves, Dees, Invicta and Motorparks, says its order books are building well and it expects a strong March trading performance.

In a trading update to the London Stock Exchange, the motor retailer said the trading performance in the first five months of its current financial year has been "substantially ahead" of the corresponding period in 2013/14 and in line with recently upgraded market expectations.

New vehicle unit sales increased by 17.1% (9.9% on a like-for-like basis), against a market up 7.9%. New car margins remained strong, it said, and its board anticipates that new car volumes "will remain robust" throughout 2015.

Used vehicle unit sales were 2.1% ahead of the same period last year (flat on a like-for-like basis), with gross profit per unit continuing to increase, Cambria said.

Growth in the group's aftersales operations also continued, with profitability currently up 7.7% year-on-year.

It said following on from the acquisitions of Barnet Land Rover and Jaguar last year the board continues to explore acquisition opportunities that will further develop the group in line with its strategy of building scale with its manufacturer partners.

"The board views the outlook for the remainder of the financial year with confidence," Cambria added.

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