Caffyns Regulatory News (CFYN)

27 Jul 2006 15:18

Caffyns PLC27 July 2006 For immediate release At the 97th Annual General Meeting of the Company today, 27th July 2006, theChairman, Mr B. A. Carte, commented as follows:- "The Chief Executive's comments on the Company's prospects were contained in ourAnnual Report. I am pleased to report that after trading unprofitably in thesecond half of last year we have traded profitably in the first quarter of thisyear, although conditions remain difficult. We have largely completed thephysical restructuring of the business following the demise of MG Rover. All ofthe former MG Rover sites have now been re-franchised other than the dealershipin Worthing, which will open as an Audi dealership by early September. To fullydeliver the potential of our re-franchised dealerships will take up to threeyears and whilst I am very encouraged by early signs, their full potential willnot be reached until 2008." End This information is provided by RNS The company news service from the London Stock Exchange