Car dealers are feeling the consumer pinch. In the first eight months of 2005, registrations of new cars in the UK were six per cent lower than 2004. However, several astute operators are riding out the subdued market with canny strategies.
For instance, registrations at franchises operated by European Motor Holdings showed a marginal increase in activity, proving that the company is outperforming the market and vindicating chief executive Richard Palmer’s policy of concentrating on a small number of premium franchises.
Palmer says a feature of the UK market is the migration from volume cars to the premium sector, a facet that should protect the business from tough markets in the future. His comments accompanied another set of strong interim results to August, with adjusted profits coming in at £8.1 million versus a forecast £7.4 million. In September, EMH enjoyed the best profits in its history.
Lookers, which has a diverse franchise network representing both prestige and volume manufacturers over a wide geography, is another thriving in difficult markets. In a record half to June, profits accelerated by 21 per cent and the company has strengthened its after-sales parts operations via an acquisition. Chief executive Ken Surgenor is paying £9.25 million for Bristol-based APEC, a distributor of braking parts, and says the deal will add £15 million to the top line. Shares in the company have had a great recent run — at the current 420p, Lookers is valued at £149.2 million.
£2,124 profit That’s what you would have in your portfolio if you had invested £6,000 into the six Company Watch recommendations in our May 2009 issue.
Advertisement
VCT Report 2010 uncovers the money available
for investment in every single VCT, helping you get one step ahead in the race to attract funding for your unquoted, AIM-listed or PLUS-quoted
company.
Order VCT Report 2010 today using this online form
A comprehensive overview of cash shells on AIM and PLUS, companies that have become a significant feature on the market landscape. For more information and to order, click here or contact our marketing team on 020 7250 7056.
Informative features and research on fast-growing companies, small-cap and growth stocks, penny shares, stock market tips and share recommendations, directors' dealings, company news and analysis, new issues and upcoming IPOs.
is the definitive and most up-to-date guide to completing your self-assessment tax return, making sure that you get it right and on time, and showing how you can save tax. For more information and to order, click here or contact our marketing team on 020 7250 7056.
A full year's subscription to What Investment magazine for £19.95, a whopping 58% off. Get the latest news, features and expert advice on ISAs, Investment Trusts and Funds, SIPPS, Investing for Children and much much
more. Find out more here.
The new, fully updated AIM Guide is now available to buy for only £49.95 (saving you £30).
A 'must-have' for any serious investor or professional interested in the market for young, fast-growing companies. Order your copy today Hurry, as offer ends soon!
In-depth coverage of selected AIM companies within the small-cap and fast growing company sector including AIM and PLUS Markets shares and listed stocks. Company research and analysis from GCI analysts updated daily.
Advertisement
Commodities are no one-way bet – merely buying and holding a commodity exchange-traded fund (ETF) will provide you with disappointing returns. However, with some canny management and switching, you can seriously enhance your returns
With gold testing highs, China bringing some currency relief and copper lately buoyant, mining markets have also taken heart from the good news being delivered by smaller players
Investors should be focusing on sensibly priced companies offering good long-term growth prospects, says Baillie Gifford’s smaller companies manager, Douglas Brodie
www.growthcompany.co.uk is published by Growth Company Investor Ltd (part of Vitesse Media plc).
Growth Company Investor Ltd, 50 Banner Street, London EC1Y 8ST.
