9:57 am, March 7, 2016
THE Cambria Group has issued a business update for the first five months of its financial year – and says that trading is substantially ahead of the corresponding period in 2014/15.
New vehicle unit sales were up 3.8 per cent (like-for-like down 1.2 per cent) and gross profit per retail unit continued to improve year-on-year.
Used vehicle sales also performed well, with unit sales 4.3 per cent (like-for-like 2.3 per cent) ahead of the same period last year.
Gross profit per unit continued to increase and this performance further enhances the profit derived from the used car segment of the business.
Growth in the group’s aftersales operations has also continued, with profitability up by 4.1 per cent year-on-year (like-for like flat).
The Swindon Land Rover business that was acquired last April has continued to perform in line with expectations and the group’s Welwyn Garden City Land Rover dealership, which was acquired two months ago, is integrating to plan. This business, which is the group’s third Land Rover dealership, will be earnings-enhancing in the second half of the 2015/16 financial year.
The statement from Cambria said: ‘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 operates 29 luxury, premium and volume dealerships, and represents 44 franchises and 17 brands, with geographical representation spanning from the north-west to the south-east.
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