StockMarketWire.com - Caffyns resumed its dividend after reporting a jump in profit in the first half of the year as lifting of pandemic restrictions boosted performance.

For the half year ended 30 September 2021, pre-tax profit grew to £2.30 million from £1.41 million year-on-year as revenue jumped 30% to £110.8 million.

'The increase resulted primarily from business activity in the prior period being heavily restricted in two of the six months due to covid-19, but partially offset by the global shortage of semiconductors affecting the availability of new cars in the period,' the company said.

The company resumed its dividend, declaring an interim dividend of 7.5 pence per share.

'The company's forward-order bank for new cars is at a historically high level, which is especially encouraging for 2022 when it is hoped that new car availability will improve,' the company said.

'However, in the short-term new cars are expected to remain in short supply and the high level of national covid-19 infections continues to be a concern as winter approaches.'

'Given these uncertainties, the board remains cautious for the second half of the financial year.' Story provided by StockMarketWire.com