Business
Trading Statement
Trading Statement.
About this update from Caffyns Plc
[{"type":"text","content":"\n Caffyns PLC\n16 January 2008\n\n\nCaffyns plc\n\n16 January 2008\n\nTrading Update/Interim Management Statement\n\n\nSince the announcement of the half year results in November 2007, the market for\nnew cars has continued to grow slightly but margins have come under increasing\npressure from economic weakness and competitive price cutting. The economic\nfactors influencing our sales include a slow down in the housing market and an\nadverse environment for consumer credit. Retail demand, which is the key driver\nof our business, has therefore been weakened and December was a particularly\ndisappointing month. This downward trend has continued in January.\n\nWe anticipate that margins will remain under pressure for some time to come and\nwe now expect that our trading performance will be considerably weaker in the\nsecond half of the year than in the first half. As has been the case\nhistorically, the overall outcome for the year will be determined by trading in\nthe final two months of the financial year and, particularly, in March. In\nlight of the current trading conditions the Board is examining a number of\ninitiatives in order to improve performance.\n\nWe have a number of property transactions at various stages of completion but\nthese are not expected to conclude in the current financial year. The\nexceptional profits of £2.8 million announced earlier in the year are\nunaffected.\n\n\nEnds\n\n\nEnquiries:\n\nSimon Caffyn\nChief Executive\n\nMark Harrison\nFinance Director\n01323 730201\n\nFor further information visit caffynsplc.co.uk\n\n\n\n This information is provided by RNS\n The company news service from the London Stock Exchange\n \n ","length":1803,"tagName":"div"}]