2:40 pm, August 22, 2011
LUXURY motor retailer H.R. Owen has announced its interim results for the six months ended June 30, 2011.
The business’s revenues grew by 17.9 per cent over the six month period to £93.1m while pre-tax and exceptional profits were up by 8.5 per cent to £1.7m.
The last six months have a been a busy period for H.R. Owen as the retailer opened the Ferrari Atelier at the Berkeley Hotel and acquired Broughtons of Cheltenham.
Andy Duncan chief executive, H.R. Owen, said: ‘The business had a strong first half and we grew sales despite the challenging economic headwinds. We are particularly pleased to have grown new car sales and improved our used car margins during this tough time.
‘There has been real momentum behind our new growth strategy ‘Experience is Everything’, including the opening of our Ferrari Atelier at The Berkeley and the acquisition of Broughtons of Cheltenham which strengthens our Bentley business and takes H.R. Owen into the Aston Martin franchise for the first time.
‘There are exciting product developments to come during the second half, including the launch of the Ferrari FF and Lamborghini’s Aventador models. However, there is no room for complacency and we remain realistic about the prospects for the UK economy.’
