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Profits slip after end of scrappage for Ford dealer

North east of England Ford dealer Holliways has reported profits have halved in the aftermath of the scrappage scheme.

Turnover for its financial year to April 30 dipped £1.3m to £39.1m, while pre-tax profits dropped to £270,808 from the £511,348 achieved the previous year when the scrappage scheme was in place and its aftersales was strong.

However Holliways' directors said in its annual accounts they were satisfied with performance, given the market conditions.

They said that with continued focus on controlling costs they are confident of another satisfactory year in 2011/2012

The dealer group, which is based in Newton Aycliffe, has three other County Durham outlets at Hartlepool, Durham, and Bishop Auckland.

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