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Stoneacre reports profit down on improved revenue in latest results

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Stoneacre’s profits fell in 2015, while the Doncaster-based dealer group’s revenue increased.

In its latest accounts for the year to April 24, 2016, pre-tax profit fell from £6.7 million to £6.1m (9%) with turnover up from £449m to £560m.

Return on sale (operating PBT%) has gone from 2.38% to 1.45%; return on capital employed from 21.36% to 15.68%.  

The company noted in its annual results that its aftersales division achieved 8.71% growth in gross profit and “this is forecast to continue as the one-to-three year vehicle parc continues to increase for at least the next two years with the longer term forecast showing a stable pattern”.

Stoneacre has its eye on acquisition opportunities: “The consolidation of the UK franchised dealer network continues to provide exciting opportunities which will enable the company to continue with its controlled expansion plans.”

Stoneacre operates from 40 locations in England and Wales and has 69 franchised sales locations with 18 manufacturers. It also has 11 accident repair centres.

In September 2015 Stoneacre bought Hunston Holdings, which traded as Autoworld; in December 2015 it bought Dews Motor Group, in June this year bought two dealerships in Cleckheaton and in June, Guest’s Wolverhampton Fiat and Jeep.

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