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Cambria automobiles warns of 'material' impact on annual performance from lockdowns
StockMarketWire.com
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Automotive company Cambria automobiles said the national lockdowns would have a 'material' impact on annual trading performance.
The sombre outlook on performance arrived as the company reported that performance for the first three months of the current financial year to 31 August 2021 had been ahead of the corresponding period in 2020.
In the period, the new car market was down 9.4% with the private segment down 7.8% and the diesel content down 33.6%.
New vehicle unit sales for the quarter were down 12.9%, with the sales of new retail cars to private guests down 12.8%.
Used vehicle sales were impacted by the trading disruption from the November lockdown and restrictions, with used unit sales down 25.9% compared with the same period in the prior year. The decline in sales was partially offset by an increase in gross profit per unit.
Aftersales operations delivered an acceptable performance, with revenue decreasing by only 9.6%, the company said.
At 8:20am: (LON:CAMB) Cambria Automobiles PLC share price was 0p at 58p
Story provided by StockMarketWire.com
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