Fleet News

Caffyns thanks the T-plate

CAFFYNS, the motor dealer, says the arrival of the T-plate and a record level of profit for March is responsible for maintaining pre-tax profits near last year's level despite losing five petrol stations from its network. Pre-tax profits for the year to March 31 were down to £1.86million (1998: £1.91million) and turn-over fell to £151.6million (1998: £162.6million). The shares rose 27.5p to 332.5p.

During the financial year, there was a management reshuffle following the retirement in May 1998 of chairman and chief executive of Caffyns, Alan Caffyn. He has become non-executive chairman and his son Simon Caffyn has taken over as chief executive. Robert Caffyn remains as managing director and company secretary.

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