2 Sep 2013 07:00
2 September 2013
Cambria Automobiles plc
("the Group")
Trading update and notice of preliminary results for the year ended 31 August 2013
Cambria Automobiles, the UK motor dealer Group will announce its preliminary results for the 2012/13 year to 31 August 2013 on Monday 25th November 2013.
The Board is pleased to announce that the trading performance achieved in the financial year has been considerably stronger than that reported in the corresponding year for 2011/12, reflecting an increased domestic new car market, which was up 9.73% on the prior year for the 11 months September to July. We are pleased to report that our new vehicle unit sales have outperformed the market, being up 16.3% in the 11 months, across our balanced portfolio of premium and volume brands. In addition, the second half has seen our after sales business deliver strong growth in profitability and there has been an improvement in the performance of our used car business.
The Group continues to pursue its buy and build strategy, successfully completing the acquisition of County Motor Works Vauxhall, Alfa Romeo and Chrysler Jeep on 31 January 2013. The Integration of these businesses is progressing well and in line with our acquisition strategy.
Following this trading performance, the Directors expect the preliminary results to be slightly ahead of the upgraded market expectations set following the trading update in June 2013.
For further information please contact:
Cambria Automobiles plc Mark Lavery, Chief Executive James Mullins, Finance Director
| 01707 280851 |
Canaccord Genuity Limited Bruce Garrow / Joe Weaving
| 020 7523 8350 |
Kreab Gavin Anderson Robert Speed | 020 7074 1800 |