(Alliance News) - Cambria Automobiles PLC on Wednesday said it anticipates its performance in its recently ended financial year to be ahead of market expectations.
The company added that its trading performance in the first 11 months of the financial year ended August 31 was "significantly ahead" of the same period the year before.
However, the new car market was affected by the the impact of the changes in the emissions testing regime, the worldwide harmonised light vehicle test procedure, Cambria said.
The company added: "In the 11-month period the total new car market was down 6.6%. The diesel segment of the market has been worst hit, continuing its decline in share, with diesel registrations down another 24.4% in the period as a result of the continued negative sentiment and government policy towards diesel engine technology."
Total new vehicle unit sales for Cambria were down 18%, though Cambria said the comparative period included a low-margin commercial vehicle deal which has not been repeated.
Used vehicles unit sales fell by 5.1% year-on-year though this was attributed to the closure of a Cambria site in Blackburn, Lancashire. On a like-for-like basis, used vehicle sales rose by 0.8%.
Aftersales operations delivered a revenue rise of 4.7% during the 11-month period, Cambria said.
Looking ahead, the company said that although Brexit uncertainty remains a challenge, positive franchising and property development has boosted Cambria's earnings capacity.
The company will announce its annual results on November 20.
Shares in Cambria were 9.3% higher at 57.90 pence each in London on Wednesday afternoon.
