Business

AA boss in rallying cry

NEW boss Bob Mackenzie vowed to capitalise on the strength of the AA's brand as the roadside assistance business released its first set of results yesterday since its £1.4 billion June flotation. The motoring organisation, with around four million members, saw sales lift 1.6 per cent to £491.7 million in the six months to July as it won new contracts from VW, Hyundai and Porsche. But its pre-tax profit plummeted almost 92 per cent to £10.2 million, after incurring £178 million of flotation and financing costs run up by the previous owners.