Caverdale drives back to the black
Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.CAVERDALE, the small motor dealer and tools distributor with a glamorous shareholder register that includes Sir James Goldsmith, surged into profit in 1993 after a pounds 1m loss in 1992, writes John Murray.
The group, which counts Damien Aspinall, son of John, and Jamie Packer, son of Kerry, among its directors, made pounds 1.5m before tax on turnover up from pounds 12.9m to pounds 50.5m. The motor retailing division boosted turnover almost 10- fold to pounds 41.2m, with half the increase coming from acquisitions. Operating profit rose to pounds 1.2m, against a loss of pounds 128,000 in 1992, on the back of the recovery in the motor trade, particularly in used cars.
Caverdale now has 11 franchises operating from 13 dealerships. Arild Nerdrum, chairman, said: 'With an increasingly positive market outlook, we are expecting continued strong and profitable growth.'
The tools and components distribution division boosted operating profits from pounds 189,000 to pounds 487,000. The company returns to the dividend list with a payment of 0.15p.
Subscribe to Independent Premium to bookmark this article
Want to bookmark your favourite articles and stories to read or reference later? Start your Independent Premium subscription today.
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies
Comments