Hendy Group’s profits are back in the black, according to its latest financial results, after five years of losses.
Its profit before tax* figure in 2015 was £358,000, an improvement from a loss of £3,000 in 2014.
The group's worst loss – of £2.4 million – was in 2013 when it shut its contract hire business (reducing debt) and reduced the scale of its Iveco operations.
Revenue improved from £302.7m to £349.9m from 2014 to 2015.
Return on sale is now 0.1%.
Hampshire-based Hendy acquired Lifestyle Europe earlier this year. This is expected to boost turnover to £600m.
It added the franchises for Renault, Seat, Subaru, Dacia, Suzuki and Isuzu to its portfolio of Honda, MG and Iveco, Ford, Kia and Mazda. It has centres in Devon, Hampshire, West and East Sussex, Surrey and Kent.
> More detail on Hendy’s performance at AMi (free to dealers)
> The autumn update of the AM100, based on statutory accounts will be published in the November issue of AM.
* includes finance costs, but excludes non-trading exceptional items such as profit on the sale of businesses, VAT refunds etc.