Harratts posted a pre-tax profit of £307,000 in 2015. And that figure is expected to more than double by the end of this trading year, with performance already ahead of trading projections, the company said.
It demonstrates a turnaround in performance following a trading loss of £2m in the year before.
Harratts posted a turnover of £124.3m in 2015.
The figures for 2015 represents Harratts Motor Group’s best trading performance in over three years.
The Harratts Group is a family-owned and run business with nine dealerships across Yorkshire in Leeds, Wakefield, Barnsley and Pontefract. The group employs more than 200 people and includes franchises for Honda, Mitsubishi, Nissan, Renault, Dacia, Volvo and Kia, plus a paint and body shop.
Craig Fraser (pictured left), group operations director at Harratts Motor Group, said: “We are all delighted with the latest published figures.
“They represent a dramatic turnaround in trading performance. We have succeeded in consolidating the group by selling underperforming businesses and becoming a more manageable and efficient operating unit in the process.
“This way, we have been able to achieve manufacturers’ targets and deliver our most profitable trading period in recent years.”
Harratts’ managing director Shaun Harratt said (right): “I am hugely grateful for the hard work of our dedicated teams throughout Yorkshire. I would also like to thank our wonderful customers for their support too. We have made some tough decisions in recent years, but the group’s current state of resurgent health justifies our approach.
“We must now maintain the momentum. We are focusing on stability in operations; further growth from after sales profitability; and a continued focus on achieving manufacturing targets.”
Harratts Group has a busy couple of months ahead with four new car launches.
The new Volvo S90 and V90, Kia Niro hybrid, new Renault Megane will all be making their first appearances in Harratts’ dealerships.
Harratts' financial KPIs (Source: Companies House)