17 February 2010
Caffyns plc
INTERIM MANAGEMENT STATEMENT
This Interim Management Statement by Caffyns plc covers the period from 1 October 2009 to 16 February 2010.
During the 4 months ended 31 January 2010, sales were 35% ahead of the equivalent period in the previous year. In the same period unit sales of new cars were 92% ahead on a like-for-like basis compared to the new car market in our sector that has grown by 81%, indicating that we continue to gain market share.
Service and used car sales in January were adversely affected by the harsh winter conditions throughout the south-east of England.
We expect that the market for new cars will fall in 2010 when the Government's Scrappage Scheme ends. However, much has been achieved in the past 18 months in improving the effectiveness of our sales and marketing activities which will enable us to better withstand deteriorating market conditions. The overall outcome for the current financial year depends particularly on the sales level in March, but we expect to report a substantial improvement on last year.
Enquiries:
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Caffyns plc |
Simon Caffyn, Chief Executive |
Tel: 01323 730201 |
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Mark Harrison, Finance Director |
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The HeadLand Consultancy |
Howard Lee |
Tel: 020 7367 5222 |
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Tom Gough |
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For further information visit www.caffynsplc.co.uk
