HR Owen plc has reported a pre-tax loss for 2003 of £3.3 million, on turnover which was up £44 million to £534 million. It had made a pre-tax profit of £2.3 million in 2002. Before exceptional items and goodwill amortisation, the pre-tax loss was lower at £1.7m, but acquisitions, disposals and delayed delivery of new high-end models for its luxury/specialist franchises hit margins.
Maranello Sales Ltd, the importer-owned Ferrari and Maserati dealer, has completed the acquisition of a Maserati dealership in St. Albans, Herts from HR Owen plc, and purchased a second showroom site in Sevenoaks, Kent.
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