4:28 am, March 24, 2011
LUXURY motor retailer HR Owen has announced its preliminary results for the year ended December 31, 2010.
The firm’s revenue was up 26 per cent to £158m (2009: £125.4m), with net exceptional gain for the year of £0.3m (2009: £7.5 million).
Group profit before tax was £1.8m (2009: £6.2 million), with a basic earnings per share figure of 6.2 pence (2009: 20.4 pence), and a proposed final dividend for 2010 maintained at two pence per share
Andy Duncan, chief executive of HR Owen said: ‘2010 saw a big improvement and return to profitability following the difficulties of 2009. We outperformed the market with healthy growth in both new and used sales.
‘Although economic conditions in 2011 are likely to remain challenging, we now have a strong platform on which to build consistent profitable growth for the future. I look forward to providing an update on the strategic development of HR Owen at our Annual General Meeting in May.’
Meanwhile the retailer has announced it has created an exclusive partnership with Ferrari and the Maybourne Hotel Group to develop a bespoke Ferrari ‘Atelier’ at The Berkeley Hotel.
The new HR Owen Ferrari flagship will offer clients a custom design service where they will be able to create their new Ferrari under the guidance of a highly trained specialists.
HR Owen is already the partner for Ferrari in London. The new Atelier at The Berkeley will further strengthen that relationship and it will be the first standalone Atelier to open outside Italy.
Duncan added: ‘We are delighted to offer this exciting and unique service to our clients.’
Matteo Torre, regional manager for Ferrari North Europe, added: ‘We are very happy that HR Owen is opening this flagship which will enhance the presence of the Ferrari brand in the heart of one of the most dynamic and vibrant cities in the world.’
