Fleet News

Quicks' profits leap by 60%

QUICKS Group, the vehicle retailer and parts distributor, has recorded record interim profits for the six months to June 30. Pre-tax profits have rocketed 60% to £5 million (£3.1 million 1997), and turnover has almost doubled compared to same period last year, reaching £332.4 million (£175.9 million 1997).

Much of this growth is down to the acquisition of Caverdale's dealerships last year which doubled the number of Quicks' dealerships to 48. The company saw car sales increase by 29%, commercial sales up 57%, and it even managed to dodge the current troubles in the used car market with a 15% rise.

Michael Moore, chairman of Quicks, said: 'Our used car sales performance for the first six months has been satisfactory. Despite weak consumer demand and lower residual values, margins have been maintained due to fast stock turnover and focused management attention.'

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