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.

Leave a comment for your chance to win £20 of John Lewis vouchers.

Every issue of Fleet News the editor picks his favourite comment from the past two weeks – get involved for your chance to appear in print and win!

Login to comment

Comments

No comments have been made yet.

Compare costs of your company cars

Looking to acquire new vehicles? Check how much they'll cost to run with our Car Running Cost calculator.

What is your BIK car tax liability?

The Fleet News car tax calculator lets you work out tax costs for both employer and employee