24 July 2014 – AGM statement
The group has stated that trading in the four month period to 30 June is ahead of expectations with strong revenue growth seen across all areas of the business. Acquisitions from earlier periods are showing significant improvements with greater volumes of used car sales and increased service revenues. The period has seen strong growth in new car sales helped by favourable exchange rates and this is expected to continue. The group continues to expand its portfolio of dealerships and it is evaluating a number of acquisition opportunities. Pre-tax profits in the current financial year to next February are likely to exceed expectations and the shares remain a BUY – a recommendation supported by share buying by the directors.