The decline came as margins were placed under 'considerable pressure' in the volume car sector, although Quicks said margins on both fleet and retail business were ahead of last year. New car sales across the group increased 22.3% from 19,598 (fleet: 7,248) in 1997 to 23,969 (fleet: 9,270) last year; used car sales increased 9.2% to 19,205 (1997: 17,588) and commercial vehicle sales also rose. Group turnover increased 67% to £643 million (1997: £385 million) reflecting the acquisition of the former Caverdale motor division as well as the increase in new car sales.
Quicks' profits fall 9.6%
31/03/1999 in NEWS