H.R. Owen PLC Trading Update

 
TIDMHRO 
 
H.R. Owen Plc (the "Group") 
 
          Trading Update following a strong third quarter performance 
 
                  H. R Owen to exceed management expectations 
 
The Board of H.R. Owen Plc issues the following trading update for the period 
from 30 June 2013 to 3 October 2013. 
 
The Board is pleased to report that the positive momentum generated during an 
encouraging first half performance has continued into the third quarter of 
2013, with the Company continuing to trade ahead of management's expectations. 
In particular, used car trading performance throughout the period has been very 
promising with volumes up by almost a third on the prior year at improved unit 
margins. In addition, receipts of new cars from manufacturers have been 
accelerated ahead of expectations with a resulting higher than anticipated 
percentage of our available 2013 allocations being delivered to customers in 
the first nine months of the year. 
 
Accordingly, as a result of the particularly strong performance during the 
first nine months of the year and the outlook for the remainder of the year, 
the Group now expects the results for the year ended 31 December 2013 to be 
ahead of management's previous expectations. 
 
The mandatory cash offer for the Group by Berjaya Philippines Inc of 170 pence 
per share, announced on 12 September 2013, has been declared wholly 
unconditional and will remain open for acceptance until 11 October 2013. The 
Board reiterates its recommendation that shareholders should accept the 
mandatory cash offer, as the directors have already done so in respect of their 
own beneficial holdings. 
 
Information: 
 
H.R. Owen (020 7245 1122) 
 
Joe Doyle, Mike Warren 
 
Charles Stanley Securities (020 7149 6000) 
 
Marc Milmo, Carl Holmes 
 
Halkin Communications (07904 680 547) 
 
Sara Batchelor 
 
About H.R. Owen 
 
H.R. Owen has evolved into the business it is today over a period of nearly 70 
years. We operate a number of vehicle franchises in the prestige and specialist 
car market for both sales and aftersales, predominantly in the London area. 
These cover fourteen sales franchises and seventeen aftersales franchises for 
Aston Martin, Audi, Bentley, BMW, Bugatti, Ferrari, Lamborghini, Lotus, 
Maserati, MINI, Pagani and Rolls-Royce. We have a long and prestigious history 
and can trace our foundations back to the formation by Harold Rolfe Owen of a 
dealership selling Bentley and Rolls-Royce cars in 1932. 
 
More information about the H.R. Owen Group can be found on our website 
 
http://www.hrowen.co.uk. 
 
 
 
END