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Combined Motor Holdings (CMH), the importer of Volvo, Nissan and Lexus, has reported a large jump in annual profit helped largely by cost cuts pushed through in the previous year to navigate challenges posed by the pandemic.

“The period was a classic case of preparation meeting opportunity,” said CEO Jebb McIntosh. “The tough and stressful decisions and actions taken during the previous year positioned the group to take advantage of the few positives that emerged during a period of continued turmoil,” he said...

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