“The Group has seen significant growth year on year in revenue, gross profit and with pre-tax profits 27% ahead of previous year. The new vehicle division has seen growth in unit sales and continues to perform well in an improving retail market. We have seen good improvements in the aftersales division following the implementation of the rationalisation programme and the Guest Connect Centre initiative.
The acquisition of County Motor Works in Chelmsfordadds our second Vauxhall business, in line with our stated strategy, and also adds a further Alfa Romeo business and our first Chrysler Jeep business; both franchises have new product launches in 2014/15. The County Motor Works business is integrating well and we are confident about its future potential.
We are pleased report that the important March trading period was strong and an improvement on the previous year, and that March’s new retail registrations showed continued signs of recovery. The Group’s balance sheet and liquidity remains robust and we continue to identify potential acquisition targets that fit with our stated strategy. The Board is confident after a strong March performance that the Group will trade in line with expectations for the full year and is therefore pleased to announce the payment of a maiden interim dividend of 0.1p per share."