Car dealer Swansway has today reported a 20% growth in year-on-year profit before tax and 18% increase in revenue.
The newly filed 2014 accounts for the family-run group show PBT at £6.2 million and turnover, £436.1m.
At £7.8m the AM100 group’s operating profit was up 17% on the previous year.
New car and van sales volumes increased by 17% on 2013 and used vehicles by 12%.
By brand, Audi and Volkswagen Cars profits improved, while VW Commercial Vehicles profitability fell slightly due to “management issues” at one of the four centres.
Swansway’s single Seat centre delivered a profit “in excess of” £400,000. Land Rover returns were “very satisfactory” and the Peugeot dealership in Chester produced a result on a par with 2013.
Honda, however, was described as struggling in terms of volume and profitability.
“The brand suffers from a lack of variety across the product offering and market share continues to fall,” the group said. “We expect this decline will reverse to some extent in 2015.”
Swansway director Peter Smyth (pictured) said:”2014 was the year when our culture of ‘caring, honest and proud’ really showed how powerful a focus on customer service can be in delivering increased profits”.
The group operates 19 franchised dealerships across the North West and West Midlands.
2014 saw the group win the Volkswagen Dealer Group of the Year award for passenger cars, alongside the Volkswagen Commercial Vehicle Dealer Group of The Year award; a double win which was a first for any dealer.
Crewe Volkswagen and Wrexham Volkswagen were placed first and second in the Volkswagen One Business Awards; Crewe Audi number three in the UK and Crewe Seat number two.
“We’re doing a good job for the brands and increasing profitability for ourselves; with a £12m investment in new-build sites we have much to look forward to.”
Ground has already been broken on a new Fiat/Citroen centre in Chester which will add the Alfa Romeo brand to the Swansway portfolio in early 2016; also opening in 2016 will be a new-build Jaguar centre in Crewe.