(Alliance News) - Cambria Automobiles PLC on Wednesday said it recorded revenue growth across all units in its most recently-ended financial year, resulting in double-digit profit growth.
The Swindon-headquartered motor dealer reported pretax profit of GBP12.5 million in the year to the end of August, up by a quarter from GBP9.1 million it delivered a year ago, as revenue grew by 4.4% to GBP657.8 million from GBP630.1 million.
Cambria increased its dividend per share by 10% to 1.1 pence from 1.0p it paid a year ago.
Strategic acquisitions, franchise changes, and greenfield developments which the company has delivered over the past five financial years have accelerated growth, Cambria said.
By division, new vehicle revenue increased by 1.1% to GBP293.8 million despite total new vehicle sales volumes being down 18%.
In used vehicles, revenue increased 8.5% to GBP302.8 million from GBP279.1 million, whilst the number of units sold declined by 4.9%.
Combined aftersales revenue increased 4.3% year-on-year to GBP76.9 million as it continues to focus on the sale of service plans and its warranty-4-life product.
"The board remains confident that Cambria's resilient business model, enhanced franchise portfolio, focus on delivering a superior guest experience and financing arrangements leave it well positioned to take advantage of any opportunities that the current economic uncertainty will provide," said Chief Executive Mark Lavery.
Cambria shares were trading flat in London on Wednesday at 60.00p each.
By Evelina Grecenko; evelinagrecenko@alliancenews.com
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