QH acquisition boosts Klarius sales to €350m

Klarius has reported a positive six months of trading following its €300m acquisition of Quinton Hazell at the beginning of 2010.

The Group said that the acquisition has raised annual sales to over €350m in the first half of the year, and that profitability and cash flow are more than 50% above expectations.

Speaking from the new Group HQ offices at in Manchester, Tony Wilson, chairman and CEO, said: “We went into this acquisition deal with a very pragmatic picture of the short-to-mid-term growth and profitability prospects for the new parts of the business.

“We were very pleased to have confounded even our own expectations and posted solid profits after just three months.”

Chief financial officer David Cheetham added that internal restructuring and repositioning of the business had been key.

“We have exceeded internal financial targets for reorganising the business, finding substantial efficiencies and reaching overall profitability ahead of schedule,” he said.

“This positive situation has allowed us to bring plans for further acquisitions forward, based on a solid fiscal base coupled with predicted organic growth also exceeding expectations.”

Published by emmabutcher

Emma has been CAT's editor since January 2008. There isn't much she doesn't know about the aftermarket - and her favourite topic is definitely BER!

Autopromotec about to go live

International show set to open after long absence

Read More

Leamoco and M1 acquired by AAG

Former IFA and Groupauto member

Read More

In Pictures: It’s a wrap for Fleet Factors

TMD branding on Teeside-based chain’s vehicles

Read More

DVLA ‘ghost records’ highlight EU driving licence loophole

Licence holders that do not update details are causing a headache for insurers

Read More

Over half of garages preparing to increase prices

Survey shos increasing parts prices, coupled with cost of living, is bringing workshops to increase rates

Read More

Go to comments

Your email address will not be published. Required fields are marked *