8:00 am, October 10, 2025
Franchised car dealer Ancaster Group has reported tumbling profits for 2024 as the firm battled the impact of ‘continued cost challenges’.
Accounts recently filed via Companies House show that Ancaster Group Limited made a pre-tax profit of £628,755 in the 12 months to the end of last December.
The result represents a collapse of almost 60% when compared to the £1.55m the firm pocketed in 2023, with bosses pointing to difficulties with energy, staffing and higher interest rates.
The group, which represents the likes of Skoda, Dacia, Renault and Hyundai, also saw turnover dip from £242.58m to £241.63m.
Meanwhile, EBITDA – the measure by which the Car Dealer Top 100 is ranked – decreased to £3.98m from £4.17m.
Despite the struggles, there was some good news within the accounts, with gross margin increasing from 12.8% to 13.7%.
There were also multiple changes made to the firm’s dealer network, including the takeover of Allam Motor Services in Epsom in October.
Reflecting on the year, director Stephen Wood said: ‘The directors are satisfied with the group’s performance in 2024 with turnover remaining consistent with the prior year and gross profit increasing by 6%.
‘Profitability in 2024 was impacted by the continued cost challenges from energy, staffing and higher interest rates.
‘The group continued in its strategy of sustainable growth with the addition of a new dealership in Chislehurst for the Hyundai brand which replaces two dealerships in Catford and Dartford where the leases end in mid 2025 and early 2026 respectively.
‘These operations were relocated in March 25 to the new dealership together with the Head Office function which moved from offices in Croydon where the lease ends in late 2025.
‘This consolidation will help reduce the cost base of the business while giving our customers a significantly enhanced experience.
‘The directors are also pleased to confirm that in October 2024 the business acquired Allam Motor Services in Epsom which is an approved Skoda dealer through an all-share purchase.
‘The directors are delighted to add Skoda to the group. The business also added Nissan to this dealership in February 2025 which completed a contiguous market area for Nissan from Slough in the West to Eltham in the East.
‘The business also acquired a freehold storage facility in Dartford in Aug 2024 to support the dealerships in the South East of London.’
Throughout the year ordinary dividends were paid amounting to £225,000 but the directors did not recommend payment of any further amount.
The period also saw employee numbers grow to an average of 389, with staff costs totalling an increased £18.05m.
Directors’ remuneration came in at £875,629 – down from the £904,050 splashed out in 2023.
