Hatfields Group has published details of record profitability in a set of 2018 annual financial results which revealed a 7% increase in turnover and 17% growth in profit before tax.
Lookers is investing £10 million over the next two years in a bid to deliver a “gold-plated” sales process ahead of the launch of an official investigation of the business by the Financial Conduct Authority (FCA).
Marshall Motor Holdings has reported a 9% decline in pre-tax profits in its interim financial results to June 30, 2019 – despite outperforming the UK’s declining new car market.
Read Motor Group has said that it overcame ‘”aggressive competition” in the new car retail sector to grow turnover and profit during 2018.
Ford franchisee Pertwee & Back has suffered a 43.4% decline in turnover as it slipped into loss following a decision to improve profitability by placing a “greater emphasis on higher margin retail sales”.
Group 1 Automotive's president and CEO has said that Volkswagen encouraged its recent acquisition of dealerships from Inchcape despite its own plans for a period of consolidation in a “challenging” UK market.
A 6.4% H1 2019 decline in revenues and 11.8% dip in operating profit during the first half of the year have prompted Renault to cut its sales targets for the full year.
Jaguar Land Rover (JLR) suffered a £395 million loss in the three months to the end of June as sales fell by 12% to 128,615.
The Volkswagen Group has delivered revenue and profit growth in H1 2019 with strong results for Porsche, its new SUV models and Bentley’s return to profit all boosting its performance.
Inchcape has said that it is targeting “revenue and cost optimisation” in the UK car retail market after its disposal of seven Volkswagen and Audi dealerships this week.
Vertu chairman Peter Jones will tell this morning’s car retail group AGM that the group experienced profit declines of £2.3 million from new car sales and £1.1 million from use in the four month period to June 30.
Motorpoint Group has predicted reduced half-year profits ahead of its annual general meeting this morning.
Marshall Motor Holdings expects its first half profits to be in line with expectations, and said it has outperformed the market in both retail and fleet new vehicle sales.
Lookers has reported that trading toughened in the second quarter of 2019 and warned that its earnings at the mid-year point will likely be down by 25% year-on-year.
Border Cars has contacted its 200 employees to warn them that the business faces an uncertain future amid “financial difficulty”.
HR Owen’s annual financial results for 2018/19 have revealed that the London-based supercar and luxury car retailer has delivered a four-fold increase in pre-tax profits in the three years since its acquisition by the Malaysian Berjaya Group.
Pendragon needs to refocus its Car Store used car supermarket strategy as it seeks out “self-help opportunities” in light of an operational business review which predicted that the group would make a significant loss in H1, 2019.
Cartime is targeting a £100 million turnover by 2021 after celebrating a set of annual financial results which revealed a 28.7% rise in revenues and 27% increase in pre-tax profits in 2018.
Motorpoint delivered 6.8% turnover growth and 10% growth in profit before taxation and exceptional items in its 2018 annual financial results.
Auto Trader’s annual turnover rose 8% to £355.1 million in 2018 as its grew its average profit per retailer forecourt by 9% to £1,844.
