Caffyns PLC
27 July 2006
For immediate release
At the 97th Annual General Meeting of the Company today, 27th July 2006, the
Chairman, Mr B. A. Carte, commented as follows:-
"The Chief Executive's comments on the Company's prospects were contained in our
Annual Report. I am pleased to report that after trading unprofitably in the
second half of last year we have traded profitably in the first quarter of this
year, although conditions remain difficult. We have largely completed the
physical restructuring of the business following the demise of MG Rover. All of
the former MG Rover sites have now been re-franchised other than the dealership
in Worthing, which will open as an Audi dealership by early September. To fully
deliver the potential of our re-franchised dealerships will take up to three
years and whilst I am very encouraged by early signs, their full potential will
not be reached until 2008."
End
This information is provided by RNS
The company news service from the London Stock Exchange
27 July 2006
For immediate release
At the 97th Annual General Meeting of the Company today, 27th July 2006, the
Chairman, Mr B. A. Carte, commented as follows:-
"The Chief Executive's comments on the Company's prospects were contained in our
Annual Report. I am pleased to report that after trading unprofitably in the
second half of last year we have traded profitably in the first quarter of this
year, although conditions remain difficult. We have largely completed the
physical restructuring of the business following the demise of MG Rover. All of
the former MG Rover sites have now been re-franchised other than the dealership
in Worthing, which will open as an Audi dealership by early September. To fully
deliver the potential of our re-franchised dealerships will take up to three
years and whilst I am very encouraged by early signs, their full potential will
not be reached until 2008."
End
This information is provided by RNS
The company news service from the London Stock Exchange