Autologic remains cautious for 2010

Date: Tuesday 02 Feb 2010

Specialist car distributor Autologic said it remains cautious about prospects for 2010 due to continuing uncertainty in the automotive market.

Autologic said it expects pre-exceptional profit before tax for the 12 months to 31 December 2009 will be 'materially better than current market expectations' as a result of stronger than expected UK trading in the second half of 2009.

"The automotive marketplace continued to benefit during the second half of 2009 from the effect of the UK Government's vehicle scrappage scheme. Approximately 280,000 additional new registrations took place in the UK as a result of this scheme, the majority of which were in the second half of the calendar year," the group explained in a company statement.

Autologic said the expiry of the scrappage scheme in February could have an impact on 2010 new car registrations with consumer demand in the UK for new vehicles expected to soften.

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