7th Mar 2016 08:33
LONDON (Alliance News) - Cambria Automobiles PLC on Monday said trading in the first five months of its financial year was "substantially ahead" of the same period a year earlier on both a total and like-for-like basis.
The franchised motor retailer said new vehicle unit sales were up 3.8% in the five months to end January, with like-for-likes down 1.2%, while gross profit per retail unit continued to improve year-on-year.
Used vehicle sales also performed well, with unit sales up 4.3% in total and up 2.3% on a like-for-like basis, as gross profit per unit too continued to increase.
Aftersales operations achieved profit growth of 4.1%, which was flat on a like-for-like basis.
Cambria said the Swindon Land Rover business, which it bought last April, has continued to perform in line with expectations, while the Welwyn Garden City Land Rover dealership acquired in January is integrating to plan. Cambria expects the latter to be earnings enhancing in the second half of the financial year.
"After the first week of the important March trading period, the new car order book is building well, and the board expects the group to deliver another strong trading performance in this crucial month. The board continues to look to the future with confidence," Cambria said in a statement.
Cambria will announce its first-half results for the six months to February 29 on May 10.
Shares in Cambria were trading up 3.8% at 82.00 pence on Monday morning.
By Karolina Kaminska; [email protected] @KarolinaAllNews
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