8:34 am, August 3, 2026
Dealer group Gravells remains in a ‘strong position’ despite posting a small dip in profits for 2025.
That is according to bosses at the Carmarthenshire-based firm, which has now filed its annual accounts via Companies House.
The documents show that the car dealer made a pre-tax profit of £3.3m in the 12 months to the end of December 2025, compared to £3.58m in 2024.
Directors pointed to ‘volatile’ used car prices, increased business taxes and a ‘challenging economic environment’ as reasons for the slide and say that the performance remains ‘satisfactory’.
Despite the difficulties, the firm was still able to return an improved turnover of £154.19m, compared to £147.88m last time out.
Of that increased revenue, £61.8m was generated by used vehicles, with new vehicles raising a further £76.82m. Overall, car sales declined from 7,924 units to 7,793.
The year also saw Gravells grow its dealer network, with the addition of a new Renault site in Hereford, while the firm’s net assets decreased by £1.17m to £12.54m.
Over the course of the year, dividends totalling £3.39m were paid – the same level as in 2024.
Reflecting on the year in the accounts, director Jonathan Gravell said: ‘The company represents three esteemed brands Kia, Renault and Dacia, they also offer a wide range of vans and electric vehicles across their locations in South Wales and Ilereford.
‘The results for the year and the financial position at the year end was considered satisfactory. The company net assets have decreased by £1,170,041 to £12,544,938 in 2025.
‘Due to having sufficient reserves the director agreed to a large dividend which whilst reducing the company’s net asset position, increased the net assets in the holding company in the year.
‘The company made a further acquisition in 2025, a Renault dealership in Hereford. The company continues to be in a strong position to act quickly should further acquisitions opportunities arise.’
Commenting on the wider UK market, he added: ‘The UK new car market continues to be a very competitive environment with a number of new Chinese brands entering the market. In addition, used car prices during 2025 especially in respect of EV vehicles continued to be quite volatile.
‘The performance of the UK economy and relatively high interest rates continue to put pressure on the consumer and businesses looking to replace their vehicle fleets.
‘In addition, the UK Government continues to increase business taxes through increases in employment costs as well as business rate increases.
‘These pressures will continue to create a challenging economic environment going forward. The company remains focused on cost control and customer retention.’
Elsewhere, the accounts show that throughout 2025, staffing costs rose from £4.48m to £5.5m, despite a small dip in the size of the firm’s workforce, to an average of 155. At the same time, directors’ remuneration rose slightly to £71,085.