Harwoods Group moved into the top ten of The Sunday Times Top Track 250 round up of the UK’s most successful mid-sized private companies by sales.
Topped by McLaren Automotive, the prestigious list features a number of car retail groups but only Sussex-based Harwoods made the top ten, with sales of £612.6m and profit of £12.7m moving it up five places to sixth overall in 2017.
The Times credited Harwoods’ acquisition of Croydon Jaguar and Lewes Land Rover with the group’s recent success in the survey compiled by Fast Track.
Cornwall-based Helston garages, which operates 37 dealerships in the South West, took Harwoods’ 11-place standing from last year, appearing just outside the top ten with sales of £586m and profits of £15.4m.
Also among the familiar names within the top 50 companies in the Top Track 250 were Car Giant (19), Eastern Western Motor Group (20), Dick Lovett (31), Glyn Hopkin (33), Robinsons Motor Group (44) and Available Car (50).
Fraser Cohen, Glyn Hopkin’s managing director, was keen to celebrate his business’ placing after seeing sales rise 9% to £455.6m and profit up 13% to £10m.
Cohen said: “It is very gratifying to be ranked in the Top Track 250 for the seventh year running, among a host of top-performing businesses and leading brands.
“The wider economic situation in the UK has meant that the retail environment has become more challenging for the whole sector in 2017, but we have an excellent team who have risen to the occasion and ensured that the business is on course for another impressive year.
“We are targeting £500million turnover in the medium term, and we have the momentum and the strategy to achieve continued, sustainable growth.”
Between them the Top Track 250 generated combined sales of £62.4bn, the equivalent of 3.2% of GDP, according to The Times, employing 380,000 people across the UK.