News

Cambria reports strong results and new appointment to board

Time 5 years ago

FRANCHISED motor retailer Cambria has reported strong trading in the second half of the financial year ahead of its preliminary results for the year to August 31, 2016.

A statement from the board said that it followed a good first half, with trading in the first 11 months of the financial year substantially ahead of the corresponding period in 2014/15 on both a total and like-for-like basis.

New vehicle unit sales were up by 11 per cent (like-for-like up 3.8 per cent), with gross profit per retail unit increasing year-on-year in the total group and in the like-for-like businesses.


Used vehicle sales also performed well, with unit sales 4.4 per cent (like-for-like 2.6 per cent) ahead of the same period in the previous year.  Gross profit per unit continued to increase year-on-year, which has driven profit growth from the used car segment of the business.  Aftersales operations also continued to perform well, with profitability up by 3.7 per cent year-on-year (like-for-like flat).

Heading into the September trading period, the group’s new car order book was reported to be building well and in line with Cambria’s expectations.

In addition, Tim Duckers joined the board today as managing director of the motor division.  He has more than 20 years of motor retail operating experience, and has been with the group since 2008.

Mark Lavery, Cambria chief executive, said: ‘The group has performed well during the course of the financial year, delivering growth in the operating business and adding on earnings accretive acquisitions. The mix of franchises has been enriched in line with our growth strategy and the business is well placed to build on the momentum generated this year.’


He added: ‘I am very pleased that Tim has accepted our offer for him to join the board of directors and look forward to him supporting myself and the team as we continue to expand the group further along the next exciting phase of its development.’

Cambria will announce its preliminary results for the year ended August 31, 2016 on November 22, 2016.

 

MORE: Cambria announces acquisition of JLR franchise in north London

MORE: Used car successes a highlight as revenue and profits climb at Cambria

MORE: How video has helped Cambria revolutionise car sales

On SuperUnleaded.com: Hero Strangers Work Together To Save Woman From Burning Car

John Bowman's avatar

John has been with Car Dealer since 2013 after spending 25 years in the newspaper industry as a reporter then a sub-editor/assistant chief sub-editor on regional and national titles. John is chief sub-editor in the editorial department, working on Car Dealer, as well as handling social media.

More stories...

Advert
Server 51