Fleet News

Early action on used car values pays dividends for H R Owen

SPECIALIST luxury motor distributor H R Owen's early 1998 stance to safeguard against weakening used car values has paid dividends. The company saw a 42% rise in 1998 interim pre-tax profits on a 6% rise in turnover.

Figures for the six months to June 30 reveal that the 28-strong dealership group - composed of 20 specialist and eight volume marques - saw turnover increase to £198.9 million (1997: £187.8 million) and pre-tax profits increase to £3.045 million (1997: £2.151 million). In announcing the results the company said profits had been boosted by strong new car business boosted by the company's decision to concentrate on specialist and aspirational brands.

The company is one of the world's largest Rolls-Royce and Bentley retailers and also counts Jaguar, Skoda, Land Rover, BMW, Mercedes-Benz, Volkswagen, Ferrari, Maserati, Cadillac, Chevrolet, Suzuki, Jeep, Lotus, Toyota and Porsche among its franchises.

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