AGM Interim Management Statement

RNS Number : 1458N

Caffyns PLC

24 July 2014

 



AGM Interim Management Statement

24 July 2014

Richard Wright, Chairman of Caffyns plc ("the "Company"), the automotive retailer covering seven car franchises from thirteen dealerships in the south east of England, will make the following Interim Management Statement at the Company's Annual General Meeting at 2.30p.m. today:

"This Interim Management Statement covers the period from 1 April 2014 to 23 July 2014.

The Company has made an encouraging start to the current financial year, which ends on 31 March 2015. In the trading quarter to 30 June 2014 (the "Quarter") we increased new car unit sales on a like for like basis by 3.9%, despite four of our thirteen showrooms being out of commission due to refurbishment upgrades.  Used car unit sales increased on a like for like basis in the Quarter by 14.2%, on top of a strong increase in the corresponding period of the previous year of 18%. Aftersales revenues were up by 4.2% on a like for like basis.

The refurbishment at our Vauxhall dealership at Ashford was completed during the Quarter whilst those at our Audi Eastbourne branch will be completed in August and at our Skoda/SEAT dealership at Tunbridge Wells in September."

Enquiries:      

Caffyns plc	Simon Caffyn, Chief Executive		Tel:	01323 730201
	Mark Harrison, Finance Director
HeadLand	Tom Gough		Tel:	0207 367 5228

                                                                                                     07717 896701

 

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