24th Jul 2014 10:22
LONDON (Alliance News) - Caffyns PLC said Thursday that it has made an encouraging start to its financial year as it recorded boosted sales in new and used cars in the first quarter.
In an interim management statement released ahead of the company's annual general meeting Thursday, Caffyns said new car unit sales on a like-for-like basis rose by 3.9%, despite four of the company's thirteen showrooms being out of commission due to refurbishment upgrades.
The automotive retailer said used car unit sales during the quarter also increased on a like-for-like basis, up 14.2%, on top of a strong increase in the corresponding period of the previous year of 18%, it said.
After sales revenues also showed growth, rising 4.2% on a like-for-like basis.
During the trading period from April 1 to July 23, 2014 the company also completed the refurbishment of its Vauxhall dealership at Ashford. The refurbishments at Caffyns' Audi Eastbourne branch will be completed in August and at the Skoda/SEAT dealership at Tunbridge Wells in September, said Chairman Richard Wright.
Shares in Caffyns were Thursday quoted at 575 pence per share, untraded.
By Alice Attwood; [email protected]; @AliceAtAlliance
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