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Growth puts Lifestyle Europe ready to invest

Sales growth in the last financial year at Lifestyle Motor Group has paved the way for freehold acquisitions and a new purpose built Ford and Mazda dealership in Horsham.

The 12 months to March 2014 saw turnover increase 21% to £146 million on the back of improved performances from all profit streams within Lifestyle Motor Group, the trading brand of Lifestyle Europe.

This, which chairman Marc Matthew said was coupled with strong returns from all franchises held and supported by low staff turnover, has given the group a 35% return on capital employed.

Matthew said operating profit within audited accounts show strength in the group, with strong market demographics, exceptional operating processes, outstanding premises coupled with high housekeeping appearance and dedicated training and development plans. 

The car dealer group achieved £3,456,658 PBIT, equating to an annual profit per employee of £8,057.

The group acquired freehold property in the year in Royal Tunbridge Wells at the same time as investing £5m into their new Horsham dealership situated on the Guildford Road.

The new dealership, which boasts the latest corporate identity for Ford and Mazda, is opening on the August 4 following its relocation from its present site less than a mile away.

The new site is opposite an area which will be undergoing huge public and private investment in leisure and retail facilities, 3,000 new homes and a hotel.

Matthew said this will make the Lifestyle site "a key part of future retailing in the area".

The group, which operates in the South of England, has seen further improvements in this fiscal trading year performance reporting a 26% increase in PBIT for its first quarter April to June 2014.

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