8:28 am, May 26, 2026
Luxury car dealer group Dick Lovett says profits have held firm in its latest set of annual accounts, despite the firm being hit hard by non-existent Jaguar sales and Mini’s switch to an agency model.
Accounts recently published via Companies House show that the retailer’s parent company – Dick Lovett Companies Limited – made a pre-tax profit of £10.59m in the 12 months ending December 31, 2025.
While, the figure represents a slight decline on the previous year’s £10.61m, bosses remain pleased with how the firm handled tricky market conditions.
The firm managed to maintain profitability despite a significant drop in turnover, sparked in part by not being able to sell any new Jaguars throughout the year.
Shrinking Porsche sales and Mini’s decision to adopt an agency sales model also contributed to turnover dropping to £801.22m, compared to 2024’s £810.49m.
Despite the reduction in turnover, ordinary dividends were paid amounting to £500,000 across the year, with none having paid out at all in 2024.
Directors say that 2025 was a ‘challenging’ year overall, with increases to national minimum wage and national insurance taking their toll.
However, that did not stop the Car Dealer Top 100 outfit from investing in its dealer network, including a significant rebuild of its Porsche Bristol site.
Investment was made to the purchase and refurbishment of a new building to increase workshop capacity at Porsche Tewkesbury, while significant expenditure also went on new ramps and equipment at Porsche Swindon.
Reflecting on the year, director Julian Winterburn wrote in the accounts: ‘The reduction in turnover reflected no new Jaguar sales in 2025, and a decline in the sale of Porsche cars, and although Mini turnover reduced due to the move to agency sale agreement terms, increased turnover from BMW sales made up for the Mini reduction.
‘The trading companies increased their profit year over year reflecting improved profitability and volumes in BMW and Mini, and a continued strong performance in Ferrari, with Aston Martin also returning to profitability, which helped offset the decline in Porsche profitability and a loss in Jaguar Land Rover.
‘2025 was a challenging year from a margin and cost perspective with the increase in national minimum wage and national insurance having a significant impact on the company and therefore to maintain profitability despite these headwinds reflects the excellent team and the strength and resilience of the business.
‘Despite a significant investment programme on dealership redevelopment the cash position has remained positive throughout the year due to the strong trading performance of the group allowing investments to be funded by operational cash flow.
‘The increase in investment and net profit has resulted in a new record for net equity growing to £185.6m.’
Dick Lovett represents BMW, Mini, Porsche, Aston Martin, Land Rover, Jaguar and Ferrari at 20 sites across the South West and Wales.
