AM Online

Profits and revenues boosted by luxury car dealer HR Owen

Luxury car dealer group HR Owen saw sales rise 26% to £243.5m in 2012.

Profit before tax rose 28% to £2.3m from £1.8m the previous year.

Chief executive Joe Doyle described it as a “strong performance across the board”.

“Our strategy is succeeding in delivering both growth today as well as laying important foundations for the future growth of the business.

“The successful integration of the Broughtons business (acquired in August 2011) and its return to profit, plus strong organic growth, demonstrates our capacity to expand the business,” Doyle added.

HR Owen’s new car registrations increased by 11% on a like-for-like basis, outpacing the 5% growth in 2012’s UK new car market.

Used car sales volumes also increased by 5%.

Overall, 694 new cars and 844 used cars were sold during the year.

Profits from the aftersales side of the business in 2012 improved to £7.4m due to a full year contribution from the Broughtons businesses and continuing excellent profitability in key parts operations.

Click here for AM's recent Face To Face interview with HR Owen CEO Joe Doyle.

Chairman Jon Walden said 2012 saw the implementation of several strategic initiatives at HR Owen.

Digital marketing was significantly improved with the launch of a completely new website with higher levels of functionality, and online visitor numbers have more than doubled over the year.

Good progress has also been made on the roll-out of HR Owen's new customer relationship management (CRM) systems, and it has launched a customer magazine entitled Drive.

Developments in the pipeline include growing used car and aftersales operations and the launch in the first half of 2013 of a HR Owen branded accident aftercare business.

In addition the car dealer group will launch a new Lamborghini franchise for Berkshire, based alongside its Pangbourne Bentley dealership, in May. It will be HR Owen's third dealership representing Lamborghini, after London and Manchester.



If you are not a registered user your comment will go to AM for approval before publishing. To avoid this requirement please register or login.

Login to comment

Comments

No comments have been made yet.