LONDON (ShareCast) - Overall trading at HR Owen has been strong in the first quarter, the luxury car dealer said Wednesday, leaving it confident of hitting profit forecasts for the full year.

It also expects a good result in the second quarter as things have continued in the same vein to date.

The Ferrari and Maserati dealership at St Albans, bought last September, has done well in the first four months.

Specialist new car sales have been excellent, said the company, but the margins in the used car market have come under pressure in a tough market.

“The results have been assisted by the reduction in costs which have been referred to previously and we currently expect the group to achieve the market forecast for profitability for the year,” it said.

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