Cambria Profits Up
Cambria Profits Up in a tough year for the motor trade.
Cambria Automobiles pre-tax profit rose by 37 per cent to £12.5m for the year to August 31, it has reported.
In its final results for 2018/19, announced via the London Stock Exchange, the franchised motor retailer, which was established in 2006, said it had performed ahead of board and market expectations, enjoying gross profit growth across all segments despite what it labelled ‘challenging market headwinds’.
Revenue was up by 4.4 per cent to £657.8m, with operating profit rising by 36 per cent to £13.9m.
New unit sales were down 8.1 per cent like for like, but gross profit was up as a result of the 11.1 per cent like-for-like increase in profit per unit because of what it called an ‘improvement in the franchise portfolio mix’.
Among its franchising highlights over the past financial year, it opened its second Lamborghini dealership, in Tunbridge Wells, as well as showrooms for Peugeot in Warrington, Suzuki in Maidstone and Citroen in Oldham. It also bought land in Brentwood to build a dealership.
Chief executive Mark Lavery, pictured, said: ‘We are pleased to have delivered a strong performance in the 2018/19 financial year.