| |
| Please Note - Streaming News is only available to subscribers to the Active Level and above |
|
|
|
Cambria warns of material hit to annual performance amid lockdown impact
StockMarketWire.com
|
Automotive company Cambria Automobiles said the various lockdown and tiering strategies to curb Covid-19 infections through the important plate change month of March, would have a material impact on annual financial performance.
'Whilst the guidance on re-opening [from 12 April] is welcome, it will mean that the important trading month of March will be negatively impacted by the Lockdown restrictions,' the company said.
In the five months through January, the new car market was down 14.4% with the private segment down 13.3% and the diesel content down 37.3%.
New vehicle unit sales for the period were down 14.4%, with sales of new retail cars to private guests down 15.3%.
Used unit sales were down 31% compared with the same period in the prior year, but the gross profit per unit increased 16.4% to partially offset the unit reduction.
During the first five months of the financial year, all of the company's showrooms were closed for 54 days owing to lockdown restrictions with the majority closed for a further 16 days as they operated in tier 4 restricted regions, the company said.
The company said it was prudent to continue the suspension of financial guidance to the market.
Cambria expects to announce its interim results for the six months to 28 February 2021 on 5 May 2021.
At 9:12am: (LON:CAMB) Cambria Automobiles PLC share price was 0p at 58p
Story provided by StockMarketWire.com
|
|
|
|
|
|
