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Sales and profits rise at luxury car dealer HR Owen

Revenues at luxury car dealer HR Owen rose 7% to £261.1 million in 2013, its preliminary results announcement shows.

Pre-tax profit rose to £2.4m from £2.3m, however underlying operating profit rose 63% from £2.3m to £3.8m.

Joe Doyle, HR Owen chief executive, said: “This is an excellent result with underlying trading profits up 63% year on year. It was driven by a strong performance across all areas of the business, although of particular satisfaction was the execution of our used car strategy, delivering an increase in volumes of over 30% whilst also increasing average margins.

"The outlook for the business remains very positive as we have a substantial new car forward order book. We will also continue in 2014, to pursue our strategy of increasing manufacturer representation and delivering value added new products.”

Board chairman Debbie Hewitt said digital marketing was further enhanced, resulting in visitor numbers to its website, www.hrowen.co.uk, increasing by 36% over the previous year and continuing to grow at an encouraging rate.

Its new CRM system was fully implemented throughout the group and the company has continued to develop itscustomer magazine, branded DRIVE.

Hewitt said the results from the former Broughtons business, which was acquired in August 2011 and was re-branded in 2012 as HR Owen, showed further significant improvement in 2013, contributing in excess of £1 million towards the group’s annual profit.

 

 

 



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