Cambria Automobiles trading improves despite slump in new car sales
Source - SMW
Sports car retailer Cambria Automobiles said trading in the first five months of its financial year was ahead on-year, both on a total and like-for-like basis.
New vehicle unit sales for the five months through January fell 23%, hurt by the introduction of new emissions testing rules and a weaker pound pushing up the price of imported cars.
Used vehicle sales fell 11.2%, but Camrbia said the fall was offset by a continued rise in profit per unit after it changed its product mix and shut a site in Blackburn.
Revenue in the aftersales unit rose 6.7%, while gross profit rose 4.3%
Cambria said challenges remained, given the ongoing uncertainty around Brexit.
However, it said its franchising and property development activities had enhanced its dealership portfolio mix.
At 2:29pm: (LON:CAMB) Cambria Automobiles PLC share price was -0.5p at 64.5p