NORTH-EAST car and truck dealership CD Bramall forecast a strong outcome for the year yesterday after motoring ahead in the first half.
Bramall, which is based in Harrogate, North Yorkshire, said motorists in the UK had continued to buy vehicles during the six months to June 30.
It sold more than 30,000 new cars while low interest rates and strong consumer confidence helped bolster sales of used vehicles. New truck sales were also up while demand for vans remained strong.
That meant group turnover rose from £495.2m to £575.3m, with a 20 per cent increase in pre-tax profits to £13.3m.
Chairman Tony Bramall said: "At the moment there are no significant signs that this is weakening and subject to this continuing, and the economy remaining stable, we remain confident of a satisfactory outcome to the year."
Earlier this year, Bramall's bought rival Quicks in a deal worth about £40m. The move gave the group Jaguar, Saab and Peugeot franchises, as well as parts of wholesaling business Quickco.
Mr Bramall said: "This will give us the ability to significantly develop the business over the short to medium term."
In addition, Bramall has bolstered its Mercedes-Benz coverage by purchasing car dealerships in Bolton and Blackpool, as well as a truck and van outlet in Leeds, since the half-year end.
Shareholders will receive an interim dividend of 3.16p, a ten per cent increase on last year's payout. Shares in the group rose 14p at the start of trading.
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