Fleet News

EMH profits up by 25% thanks to top marques

PRESTIGE dealerships helped dealer group European Motor Holdings increase profits by a quarter after a buoyant year in the luxury sector of the car market. EMH's predominantly prestige portfolio enjoyed burgeoning demand for more expensive marques - pushing up turnover by 21% to £241 million (1996: £199 million) in the year to September 30 1997.

Pre-tax profits improved 24% from £5 million last year to £6.2 million this year with the growth almost entirely attributable to the car retailing division of the business. Although EMH entered the bargain basement end of the market this year with the launch of the Malaysian-built Perodua Nippa small car, the group's stock in trade is BMW, Jaguar, Volvo, Mercedes and Audi sales. Chief executive Richard Palmer predicted continuing strong demand for EMH's core brands and announced further investment in the group's Volkswagen dealerships.

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