Volumes up at Daf dealer Chatfields
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Stock Exchangelisted Daf dealer group Chatfields delivered a good financial performance in 2011, thanks to an increase in volumes
Words: Justin Stanton MIDLANDS AND northern England Daf dealer group Chatfields turned in a robust financial performance last year, boasting an increase in volumes.
Through its eight branches (which, as well as Daf, retail and/or service Renault, Nissan and Ford), Chatfields sold 1,600 vehicles, both new and used, in 2011 compared with 1,400 in 2010. Used volumes increased by 45% on a like-for-like basis. New vehicle volumes increased by 1.6% on a like-for-like basis. This change in the sales mix led to a drop in operating profit from £1.4m in 2010 to £1.1m in 2011.
Total revenue was static at £74.3m (£75m in 2010). New vehicle sales accounted for nearly half of the revenue at £35.2m (£36.1m in 2010); aftersales was a significant contributor at £28.9m (£29.7m in 2010); and used sales delivered a 62% rise in revenue from £5.3m to £8.6m.
National franchise director Wayne Edwards (pictured) tells CM he expects this year to be as tough as 2011. A profile of Chatfields will appear in CM later this month. ■