Bramall silent on bid for rival
Wednesday 27 August 1997
Firmly declining to comment about Appleyard, the company announced that taxable profits had risen by 10 per cent to pounds 6.7m on unchanged turnover of pounds 320m for the six months to the end of June. The interim dividend has been increased from 1.6p to 1.84p and the shares rose 3p to 223.5p.
The figures are a stark contrast to those reported last week by Appleyard. They showed a 16 per cent drop in profits to pounds 3.88m, including profits on disposals, a 3 per cent drop in turnover to pounds 380m for the same period, and a cut in the interim dividend.
Analysts now expect Bramall to make pounds 14m of profits this year, and predict that Appleyard will struggle to make pounds 6m.
The best performance in the first half at Sanderson Brammall came from the new and used cars division. The division's contribution to profits rose by 16 per cent, and generated 60 per cent of total returns.
New car sales were up around 5 per cent in line with the market and August should have been one of the best months on record chairman, Tony Bramall said yesterday. Brammall has eight Ford, four Vauxhall and two Rover dealerships.
Truck sales fell 2 per cent in a market down 17 per cent, but profits rose 4 per cent. The car rental division has been affected by the lower residual values obtained for ex-rental cars. The strength of sterling has impacted adversely on its portfolio of luxury dealerships including BMW, Mercedes, Audi and Lexus, which are all imported.
Capital expenditure is set to reach pounds 5m this year, including three new dealerships and a site refurbishment, compared with just under pounds 4m spent in 1996. Gearing, though, has halved to 21.6 per cent in the last 12 months.
- 1 Migrant crisis: Greek soldier saved 20 people singlehandedly off Rhodes beach
- 2 Sofyen Belamouadden murder: The inside story of a crime that horrified Britain
- 3 Company breaks open Apple Watch to discover what it says is 'planned obsolescence'
- 4 Aaron and Melissa Klein: Oregon anti-gay bakers ordered to pay $135,000 after refusing to make cake for same-sex wedding
- 5 UK weather: Britain braced for snow as arctic air mass moves in
Migrant crisis: Greek soldier saved 20 people singlehandedly off Rhodes beach
Ian Brady: Moors murderer announces his support for Ukip and the SNP
Aaron and Melissa Klein: Oregon anti-gay bakers ordered to pay $135,000 after refusing to make cake for same-sex wedding
UK weather: Britain braced for snow as arctic air mass moves in
Bali Nine executions in Indonesia: Death row British grandmother Lindsay Sandiford says she 'just wants to get it over with'
General Election 2015: Chuka Umunna on the benefits of immigration, humility – and his leader Ed Miliband
The sickening truth about food banks that the Tories don't want you to know
Migrant boat disaster: Ukip candidate mocks victims in sickening Twitter post
Nigel Farage wants the BBC to stop making programmes like Doctor Who, Strictly Come Dancing, and Top Gear
Global warming: Scientists say temperatures could rise by 6C by 2100 and call for action ahead of UN meeting in Paris
General Election 2015: Britain would become a 'communist dictatorship' under Ed Miliband and Nicola Sturgeon, claims wife of Michael Gove
iJobs Money & Business
£20000 - £22500 per annum + OTE £30K: SThree: SThree Group have been well esta...
£24000 - £26000 per annum + benefits : Ashdown Group: A highly successful, glo...
£50000 - £55000 per annum: Ashdown Group: Business Analyst - Financial Service...
£18000 - £23000 per annum + OTE £45K: SThree: At SThree, we like to be differe...