http://www.gruppemplc.com/31 Oct 2007 11:24
GruppeM Investments PLC swung to a first-half pretax profit against a pretax loss a year ago on a surge in revenues, and announced the appointment of Stephanie Wong as finance director with effect from Nov 1.
The importer of Aston Martin cars and retailer of Porsche cars in the Shandong region, China, moved to the black with a pretax profit of 57,993 stg for the six months to end-June compared with a 252,918 stg loss in the year-ago period.
Revenue surged to 11.6 mln stg from 5.3 mln a year ago.
GruppeM said its Porsche Qingdao dealership, which had ordered 203 Porsche cars, delivered 191 in the first-half, adding that demand for the brand continues unabated and is convinced there is a much greater demand for the Porsche brand within Shangdong region.
The company also said it is confident that the Aston Martin brand, like other luxury brands before it, will be hugely popular in China.
On the new FD, GruppeM said Wong has 'significant' experience in the Asia Pacific as well as the US.