Caffyns 1Q Revenue, Profit Ahead Of Its Plan

29th Jul 2010 11:39

LONDON (Dow Jones)--Caffyns PLC (CFYN.LN), a motor distributor covering 12 car franchises in the south east of England, said Thursday its revenue and profits in the first quarter ended June 30 is ahead of its plan and prior year. MAIN FACTS: -Despite the conclusion of the U.K. Government's scrappage scheme, the company's new car unit sales in the first quarter is up 39% on last year. -Forward orders into August and beyond for the September plate change are running ahead of last year's orders at this date. -Company's used car unit sales down 1% on last year; Aftersales results in line with last year's performance. -Board remains cautious about the outlook for the company's market for the rest of the financial year. - Shares at 1036 GMT up 10 pence or 2.3%, at 440 pence, valuing the company at GBP12.5 million. -By Tapan Panchal, Dow Jones Newswires. Tel +44(0)207-842 9448, [email protected] (END) Dow Jones Newswires July 29, 2010 06:39 ET (10:39 GMT)