Fleet News

DC Cook profits show 30% fall

FAST-expanding dealership group D C Cook, which has doubled in size in the last 18 months, has reported a 30% fall in pre-tax profits to £3.53 million (1997: £5.04 million) despite a 22% rise in turnover to £226.8 million (1997: £185.8 million) for the year to April 30.

However, the company says the profits drop - blamed on the set-up costs of new dealerships - was in line with expectations and further expansion would continue to take place.

Chairman Derek Cook said: 'Our clearly defined strategy is to remain a significant force within the quoted sector of our industry and, with the consolidation of this sector by takeover and mergers, it is increasingly important for us to expand.' The company has 36 new car franchises and six stand-alone used car sites - compared to 24 and three sites respectively at January 1 last year.

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