Fleet News

DC Cook reveals losses

A RADICAL reorganisation at troubled dealership group DC Cook has involved shedding nearly half its outlets to limit damage caused by hefty residual value losses and an expansion programme which backfired.

The firm made a pre-tax loss of £1.1 million for the six months to October 1999 compared to a pre-tax profit of £1.0 million for the same period last year. Turnover fell to £156 million from £163 million. To stem losses it has shed 14 sites, cutting the number to 20 and is investing heavily in internet technology to encourage growth and take advantages of new opportunities.

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