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Caffyns H1 Profit Surges On Revenue Growth; Resumes Dividend

Caffyns plc (CFYN), a motor vehicle retailer in the south-east of the United Kingdom on Friday announced higher profit before tax for the first half-year ended September 30, 2021, in the backdrop of strong revenue growth, particularly the used-car segment. The company, after a gap of two years, decided to pay dividend again.

Profit before tax for the period was 2.3 million pounds as compared to 1.4 million pounds in the previous half year. Excluding items, pre-tax profit was 2.4 million pounds or 72 pence per share as compared to 1.5 million pounds or 55.9 pence per share.

Profit for the period was 1.9 million pounds or 69.0 pence as compared to 1.4 million pounds or 52.3 pence in the first half of the previous fiscal.

The company reported revenue of 110.8 million pounds, a rise from 85.4 million pounds in the previous half year registering a growth of 30 percent.

Operating profit for the half year was 2.95 million pounds versus 2.21 million pounds in the half year ended September 30, 2020.

The Board has also declared an interim dividend of 7.5 pence per ordinary share, after a gap of two years.

Shares of Caffyns plc closed Thursday's trading at 500 pounds, at same level as previous close.

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