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Pre-close Trading Update and Notice of Results

5 Mar 2014 07:00

RNS Number : 5173B
Cambria Automobiles Plc
05 March 2014
 



 

5 March 2014

 

Cambria Automobiles plc

("Cambria" or the "Group")

AIM: CAMB

 

Pre-close Trading Update and Notice of Results

 

The Board of Cambria, the franchised motor retailer, is pleased to announce that it expects the Group's results for the six months to 28 February 2014, which will be issued on 13 May 2014, to be significantly ahead of the prior year and that it views the outlook for the remainder of the financial year with confidence.

 

Trading Update

 

Further to the trading update issued on 16 January 2014, trading performance in the first five months of the current financial year has been substantially ahead of the corresponding period in 2012/13.

 

New vehicle unit sales increased by 18.7%, against a market up 10.8%, and margins remained strong. The Board anticipates that new car volumes will remain robust throughout 2014 but that margins may come under pressure if the availability of new cars exceeds natural retail demand. Used vehicle sales also performed well; unit sales were 11.1% ahead of the same period last year with gross profit per unit improving by 5.8%. Growth in the Group's aftersales operations also continued with profitability currently up 5.0% year-on-year.

 

Heading into the important March trading period, the new car order book is ahead of the same point last year, reflecting the ongoing momentum in the new car market. If this trend continues at current rates, the Board expects the Group to deliver a strong trading performance in this crucial month.

 

Enquiries:

 

Cambria Automobiles

Mark Lavery, Chief Executive

James Mullins, Finance Director

01707 280 851

 

N+1 Singer - NOMAD & Joint Broker

020 7496 3000

Jonny Franklin-Adams / Nick Owen

Panmure Gordon - Joint Broker

Joanne Lake / Peter Steel

0113 357 1150

Adam Pollock

020 7886 2500

Tavistock Communications

Catriona Valentine / Keeley Clarke

020 7920 3150

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
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