AUTOMOTIVE industry logistics and support services company AutoLogic Holdings has reported increased profits despite the impact of the introduction of the twin plate- change and a perceived weakness in the UK car market. In its interim results for the six months to June, the company, which operates in the UK, France, Belgium and Holland, reported pre-tax profits up 8.9% to £6.3 million (1998: 5.7 million) while turnover during the first six months grew by 37% to £74.1 million (1998: £54.1 million).
John Merry, chief executive, said: 'The change in the vehicle registration cycle has had a fundamental impact on the phasing of new car sales and as such the group's UK revenue pattern. When adjusted for the revised phasing of sales, we believe the UK car market is weaker than last year. However, with the new business already gained the group is confident of continued growth of its UK businesses.