H.R. Owen Plc(the"Group")

            Trading Update following a strong half year performance

                  H. R Owen to exceed management expectations

The Board of HR Owen Plc is pleased to report that the Group has experienced
encouraging trading results in the first six months of 2013.

The Board has been delighted with the progress made in its strategy to improve
the Group's used car business. Our used car trading performance throughout the
period has been very promising with volumes up by almost a quarter on the prior
year at improved unit margins. In addition, receipts of new cars from
manufacturers have been accelerated ahead of expectation with a resulting
higher than anticipated percentage of our available 2013 allocations being
delivered to customers in the first six months of the year. This was further
complemented by a particularly good close to the six-month period from our
Rolls-Royce and Bentley franchises.

In addition to the strong underlying trading result, the Group will also
recognise a non-recurring credit in its results for the first half amounting to
approximately £0.3 million, representing a curtailment gain arising from the
closure of its defined-benefit pension scheme to future accrual.

As a result of the particularly strong performance during the first half 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
expectations.

The Company expects to announce its interim results for the six months ended 30
June 2013 on 29 August 2013.

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.

Copyright y 16 PR Newswire

HR Owen (LSE:HRO)
Historical Stock Chart
From Mar 2024 to Apr 2024 Click Here for more HR Owen Charts.
HR Owen (LSE:HRO)
Historical Stock Chart
From Apr 2023 to Apr 2024 Click Here for more HR Owen Charts.