WOODCHESTER plans to expand further into the Northern Ireland market following its £3.4 million sterling acquisition of Belfast based Adelaide Finance, announced yesterday.

"We are not currently looking but should acquisition opportunities to expand through Adelaide present themselves we will examine enthusiastically," explained Mr Craig McKinney, chairman and chief executive of Woodchester.

The acquisition of Adelaide is part of a larger deal by which Woodchester's 29.1 per cent associate Lookers is buying the north's "largest motor group, Charles Hurst for £24.5 million sterling. Adelaide is the financing and insurance broking arm of Charles Hurst.

Woodchester will buy Adelaide from Lookers in a favourable deal for ii the Manchester based group. Figures for 1996 show operating profits of £0.4 million at Adelaide earned on £8.3 million turnover and end year net assets of only £0.7 million.

Adelaide currently finances around half of the cars sold by Charles Hurst. Woodchester intends to use Adelaide to expand into other parts of the leasing market in the North. This process will get under way in a matter of months, said Mr McKinney.

"We have a very competent management team in Adelaide. It has historically acted as broker but now will become a lender in its own right," he said.

No decision has been taken on whether to continue operating under the Adelaide name or change the company name to Woodchester, Mr McKinney said.