Fleet News

AA operating profits rise

PROFITS at the AA have rocketed in its first year of ownership by Centrica. An operating profit of £18 million was achieved in the six months to June 30 following a £1 million exceptional hit on turnover of £226 million, according to half-year results.

Group results did not include AA activities for the same period last year, but if they had, Centrica said a £3 million operating profit would have been reported.

From a total membership of 9.8 million at June 30, personal and associate AA members numbered 6.4 million - an increase of 357,000 over June 30, 1999 last year. During the first six months of this year almost two million breakdowns were attended. Group turnover was 23% higher for the six months to June 30 at £4.7 billion with pre-tax profits before exceptionals of £401 million.

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