The motor retailer faced a challenging half-year, swinging to a loss amid market pressures and inflationary headwinds. Despite maintained dividend, operational changes were necessary to address performance issues.
The automotive retailer has returned to profitability with a 5% revenue increase, but faces ongoing challenges from inflationary pressures and high interest rates affecting both costs and customer confidence.
Motor vehicle retailer Caffyns completes sale of freehold property
The automotive retailer reported a 73% increase in underlying profit before tax, with revenue up 3%. New car deliveries and used car sales volumes rose, while aftersales revenues grew by 8%.
The retailer has announced the sale of a freehold property, which is considered a significant transaction. However, the limited details provided make it difficult to assess the full impact.
Motor vehicle retailer Caffyns sells freehold property for £4.65 million, strengthening its balance sheet.
Director-level change at motor vehicle retailer Caffyns plc
Automotive retailer Caffyns Plc reports substantial declines in profitability and cash flow due to market challenges.
Caffyns PLC, a UK auto dealer, reports a director transaction.
UK auto dealer Caffyns PLC sees major shareholder increase stake