The AM100 car dealer group Caffyns has posted a £4.5 million swing into losses despite being able to increase its sales of new and used cars in 2023.
Caffyns, the AM car dealer group based in East Sussex, has blamed a 30% decline in profits on to inflation and higher business rates in its latest financial year.
Caffyns has cited stock shortages, economic uncertainty and energy concerns in a “cautious” trading outlook after a half-year trading statement revealed its profits had declined by a third.
AM100 car retail PLC Caffyns plans to open new Lotus and Volvo dealerships after post-lockdown trading delivered a 26.3% rise in revenues and 207.9% surge in pre-tax profits in 2021/22.
Two men have been arrested after laptops, iPads and iPhones were stolen in a break-in at a Caffyns Audi dealership.
Caffyns has revealed turnover up by 29.8% and a 62.3% rise in profit before tax in published results for the first half of its financial year.
South of England car dealer group Caffyns has clawed soundly back into the black amid the coronavirus pandemic thanks to efficiencies, state support and investment in online sales.
Caffyns has joined the London Electric Vehicle Company (LEVC) dealer network with the opening of a new franchised retail location in Eastbourne, Sussex.
Car retail’s impressive response to the COVID-19 pandemic, the impending reopening of car showrooms after ‘Lockdown 3’ and the “Cazoo effect” have triggered rallying share prices for the sector’s PLCs.
Caffyns recovered profitability this year despite its car showrooms being closed for 10 weeks. Underlying pre-tax profits have rocketed up by 830% year-on-year to £1.5 million.
COVID-19 and the EU’s new RDE CO2 emission regulations were cited as the “key events” which resulted in a 5.4% decline in revenues in the car retail group’s 2020 annual financial results.
Caffyns has praised its employees' response to the COVID-19 crisis as “outstanding” as it revealed the mitigation measures taken by the business in a trading update published this morning (May 27).
2019 half-year pre-tax profits at Caffyns have plunged 92% from the same period in 2018 as it battled Volkswagen and Audi supply problems and “a difficult economic and political background”.
Caffyns has appointed Stephen Bellamy as a new independent non-executive director and chairman of the board's Remuneration Committee.
Caffyns has blamed a 3.1% decline in turnover in its 2018 financial results on WLTP’s impact on the supply of vehicles from certain car manufacturer brands - with Audi “significantly constrained” by the new regime.
Profits have risen at AM100 dealer group Caffyns following growth in used cars and aftersales.
Caffyns has reported a 16% decline in operating profit despite rising revenues in annual results which detail the “very disappointing” performance of its volume car brands in 2017.
The former chairman and chief executive of Caffyns, Alan Caffyn, has died.
Caffyns has reported a 26.7% fall in underlying profit before tax as turnover rose by 1.25% to £106.5 million in its accounts for the half-year to September 30.
South coast-based franchised car dealers have been donating vehicle for an annual charity sale hosted by Shoreham Vehicle Auctions.
