8th Sep 2014 09:04
LONDON (Alliance News) - Cambria Automobiles PLC Monday said it expects its results for the full year to be ahead of current market forecasts, after it said the positive performance reported in July had continued through the end of its financial year.
The motor retail group said trading in the 11 months to the end of July was substantially ahead of the same period a year earlier. Cambria's full financial year ended on August 31
New vehicle sales were up 16%, excluding its recently-acquired Jaguar and Land Rover business in Barnet, Cambria said, ahead of the market average of 11% with margins remaining strong.
Used vehicle sales were also ahead year-on-year, with unit sales rising 3.2% and gross profit per unit improving 5.9%. Growth for its aftersales business also continued, with profit in the business rising 4.3% year-on-year, Cambria said.
The group said the integration of the Land Rover and Jaguar business in Barnet was progressing well, and it expects this to make a considerable contribution to its performance in the 2014/15 financial year.
Cambria said its new car order book is currently ahead of the same point last year heading into the key September trading period and said it continues to view the coming year with confidence.
The company said it will report results for the year to August 31 on November 25.
Shares in Cambria were up 6.5% to 53.80 pence in early trade Monday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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