Cambria Automobiles PLC - franchised motor retailer - Trading performance for 11 months to July 31 "significantly disrupted" due to temporary closure of all car showrooms from March 24 to May 31. Mitigated Covid-19 effect by cost reduction measures, director salary reductions and suspension of capex projects.
New vehicle unit sales down 27% year-on-year, Used vehicle unit sales were 22% lower and Aftersales operations revenue reduced by 14%. Looking ahead, although performances for June, July and August were encouraging, order bank for September is building at slower rate compared to year before. Not providing guidance due to continued uncertainty.
Will publish results for the year ended August 31 on November 25.
Current stock price: 50.10 pence
Year-to-date change: down 26%
By Dayo Laniyan; dayolaniyan@alliancenews.com
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