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Cambria Automobiles' profits grow despite falling sales

Fri, 04th Jan 2019 08:33

(Sharecast News) - Luxury car dealer Cambria Automobiles has kicked off its year with an in line performance, ahead of the prior year on a total and like-for-like basis.Cambria noted the new car market had been "significantly affected" by the impact of changes in the emissions testing regime to Worldwide Harmonised Light Vehicle Test Procedure back in September, driving new car sales down 24.9% in the first quarter of its current trading year.However, the AIM-listed firm said it had managed to offset much of the losses with an improved gross profit on a total basis as a result of a stronger mix from its newly franchised outlets representing Bentley, Lamborghini and McLaren.On the used vehicle front, sales were down 10.5% year-on-year as "significant changes" to its franchise portfolio mix and the closure of the group's Blackburn site had a "material impact on sales volumes".Looking forward, Cambria said it remained "cautious" regarding the "general uncertainty in the economy and around the consumer environment".Cambria said: "The continued progress made through 2018 with the group's franchising and property development has further enhanced Cambria's excellent portfolio of dealerships and leaves the business well positioned for the year ahead."As of 0830 GMT, Cambria shares had picked up 4.59% to 57p.

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5 Mar 2014 10:43

Cambria Automobiles Says First-Half Results To Be Significantly Up On Year

LONDON (Alliance News) - Cambria Automobiles PLC Wednesday said it expects its results for the first half of its financial year to be significantly above the same period in the previous year and it is confident about the outlook for the remainder of the year. In a statement, the franchised

5 Mar 2014 10:07

UK BROKER RATINGS: Deutsche Bank Raises View On Water Sector

LONDON (Alliance News) - The following UK shares received analyst recommendations Wednesday morning:
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FTSE 100
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NOMURA RAISES RANDGOLD RESOURCES TO 'BUY' ('NEUTRAL') - PRICE TARGET 6000 (4600) PENCE
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UBS REMOVES INTE

16 Jan 2014 11:02

Cambria Automobiles Expects First-Half To Be Significantly Up On Year

LONDON (Alliance News) - Cambria Automobiles PLC Thursday said its trading performance in the first four months of its financial year has been substantially ahead of the same months last year, thanks to a 11.4% increase in registrations of new cars. The car retailer with 27 dealerships, mai

16 Jan 2014 08:21

UK MORNING BRIEFING: Shares Down; Sports Direct Ups Interest In Debenhams

LONDON (Alliance News) - UK shares have opened mostly lower Thursday despite a strong lead from the US, as investors digest a rush of UK company announcements.

In another surprise from Mike Ashley, Sports Direct International said it has sold its 4.6% stake in Read more

16 Jan 2014 06:19

UK AGM, EGM Calendar - Week Ahead

15 Jan 2014 06:26

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14 Jan 2014 16:02

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26 Nov 2013 08:25

AIM IN BRIEF: Chamberlin Swings To Half-Year Loss, Suspends Dividend

26 Nov 2013 08:18

Tuesday broker round-up UPDATE

BBA Aviation: Goldman Sachs shifts target price from 420p to 425p and reiterates a buy recommendation. BTG: Numis raises target price from 350p to 440p upgrading from reduce to hold. Cambria Automobiles: Panmure Gordon starts with a target price of 61p and a buy recommendation. Daily Mail & Gener

18 Oct 2013 11:47

Friday broker round-up UPDATE

Aggreko: Jefferies reduces target price from 2000p to 1500p downgrading to hold. Andor Technology: Investec ups target price from 410p to 460p and maintains a buy recommendation. APR Energy: Jefferies ups target price from 1125p to 1300p and upgrades to buy. Bellway: UBS raises target price from

11 Jul 2013 16:27

Highland Gold Chairman spends big after recent share-price weakness

The Non-Executive Chairman of Russia-focused resources group Highland Gold Mining invested over one million pounds in the firm one day after the stock reached a 52-week low. As has been the case with the wider mining sector, the share price has suffered since the start of the year as commodity pric

29 Apr 2013 08:17

Monday broker round-up UPDATE

Afren: Liberum Capital shifts target price from 130p to 136p and maintains a hold recommendation. AngloAmerican: Nomura upgrades from reduce to neutral with a target price of 1700p. Antofagasta: Nomura cuts target price from 1250p to 1200p, while its neutral rating remains unchanged. Investec redu

1 Feb 2013 14:29

Cambria Automobiles buys County Motor Works

UK motor dealer Cambria Automobiles said Friday it acquired the County Motor Works franchise for 4.1m pounds. The company said the transaction would strengthen its position in major auto brands served by the dealer including Vauxhall, Alfa Romeo and Chrysler Jeep. It follows the integration and r

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