Fleet News

D C Cook issues profits warning

DEALERSHIP and contract hire company D C Cook has issued a warning that pre-tax profits would fall below those reported last year because of weak demand for new cars.

Earlier this year the group blamed a 'disappointing' fall in half-yearly pre-tax profits of nearly 50% to £1 million on the effect of expansion costs and the poor performance of residual values and last year the group 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. The company declined to comment further on the warning.

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