Kwik-Fit posts operating £17.2M operating loss

Using the latest accounts available from Companies House, the Herald Scotland reports that Kwik-Fit (GB) recorded a £17.2 million operating loss in the 15-month accounting period to 31 March 2012. The newspaper notes that this loss “reflects significant stock write-offs, delapidation charges and exceptional costs,” while Kwik-Fit directors claim business was only down 2.9 per cent on a like-for-like basis when considering the extended accounting period. Turnover during the 15 months was £639.5 million.

In the year to 31 December 2010, the company attained an operating profit of £48.5 million and turnover of £526.9 million.