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Industry: Email Alert RSS FeedRetailers suffer from UK market downturn.(News)(Brief Article)
Automotive News Europe, July, 2005
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Byline: Sylviane de Saint-Seine
European Motor Holdings generated a 7.2 percent return for the quarter on strong luxury-car sales.
The chain's luxury cars helped maintain profitability despite a weaker UK market. In its fiscal year ended February 28, European Motor's pre-tax profit was ahead of expectations at [pounds sterling]15.8 million (currently [euro]23.2 million), up 13 percent.
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The company announced a [pounds sterling]65 million acquisition of Smith Knight Fay, a premium-focused dealer group with Audi, Lexus, Mazda, Toyota and Volkswagen franchises. It operates 18 ...
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