Fleet News

Profits grow by 16% at Caffyns

DEALER and contract hire group Caffyns has announced a 16% increase in pre-tax profits, despite a reduction in turnover from £151.6 million to £147.3 million. It ended its full year on March 31 £2.15 million in the black (1998/9: £1.86 million).

Chief executive Simon Caffyn praised staff for the improvement. 'A great deal of work has been put in to achieve this in what has been a very difficult year for the retail motor industry,' he said. Shares gained 42p to 307.5p after the announcement.

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