- Car and truck retailer CD Bramall posted a 20% jump in first-half profits today.
The group expressed confidence that the rest of the year would be satisfactory.
Chairman Tony Bramall said: “Consumer confidence is the key to the balance of the year.
“At the moment, there are no significant signs that this is weakening, and subject to this continuing and the economy remaining stable, we remain confident of a satisfactory outcome to the year.”
The company said pre-tax profit for the half-year ended 30 June increased to £13.3m from £11.02m last year, helped by good growth in all its businesses.
Bramall increased its interim dividend to 3.16p a share from 2.87p last year.
The company said like-for-like new car retail sales rose over 11%, while fleet sales were up 3% in the first half. New truck sales were up 10% while van sales expanded 11.2% over the previous year.
Earlier this year Bramall’s snapped up rival Quicks in a deal worth around £40m.
The move gave the group Jaguar, Saab and Peugeot franchises, as well as parts of wholesaling business Quickco, and Mr Bramall said: “This will give us the ability to significantly grow the business over the short to medium term.”
In addition, Bramall has bolstered its Mercedes-Benz coverage by snapping up car dealerships in Bolton and Blackpool and a truck and van outlet in Leeds since the half-year end.
EGi News 13/08/02
