Fleet News

Alexanders merges into one unit

THE four dealer subsidiary operations of Alexanders Holdings are to be combined into a single operating company, Alexanders Motor Group. The new company will operate under a managing director, assisted by a finance controller, with a subsidiary board of directors. Although the move does not officially take effect until October 1, the company has been operating on this basis for two weeks.

Stephen Hemlock has joined the company as managing director elect. He has 28 years experience in the motor retail sector and was previously managing director of the Whitehouse Group.

The company's interim results for the six months to March 31 show a pre-tax loss of £840,000 compared to a pre-tax profit of £9,000 for the six months to March 31, 1996. The company, which said it had expected losses, blamed them on the effect of Ford terminating its franchises in Northampton and Edinburgh and the manufacturer's reducing market share which affected business in Scotland. Losses were offset by used vehicle profitability in the first quarter of this year and aftersales. Turnover for the six months was fractionally down at £47.285 million (£47.841 million).

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