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Swansway Group profits up 57%

Family-owned Swansway Group has posted a pre-tax profit result of £5.1 million, up 57% for 2013.

Turnover increased from £290m to £370m in 2013 and return on sales (ROS) increased from 1.1% to 1.4%.

Peter Smyth, Swansway director, said: “We believe these results are more than satisfactory and reflect our culture of ‘caring, honest and proud’; every member of our 600 plus team lives and breathes our values and we know this is helping us to sustain these year-on-year levels of growth.”

Smyth said the results had been helped by the group’s efforts to have happy staff having posted 32nd place in the most recent Sunday Times Best Companies to Work For List.

He said there is still more work to do for Swansway to reach its target of 3% ROS.

Swansway’s Crewe Seat posted a particularly strong performance with a profit of over £250,000.

The dealer group has invested £6m to move its Stafford Land Rover site to a new build facility in early 2015.

Swansway also acquired two new franchises in Chester last year with Citroen and Fiat which are profitable.

Swansway director John Smyth said: “In terms of brands it just remains for Honda to turn the corner into profitability and with the new product due in 2015 we are confident that this is just a matter of time.”

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