10:35 am, August 7, 2025
Day’s Motor Group has signed off accounts for a ‘challenging’ 2024 which saw pre-tax profits tumble despite revenue rising.
The business, whose parent company is C.E.M. Day Limited and operates 19 sites across Wales and England, will mark its centenary next year, but admitted that 2024 was a tough year.
Pre-tax profit for the year ended December 31, 2024, came to £16.1m, down significantly on the £30.3m the company made in 2023.
Operating profit slumped, too, down to £31.9m from the £42.2m it achieved the year before.
Revenue for the year was up, however, to £303.2m – the previous year the business turned over £284.9m.
Turnover increased in all areas of the business, with car sales raking in £190.3m, fleet £48.6m, short term business £63.0m, and hire purchase financiers £1.3m.
In the accounts, chairman Graham Day said: ‘In 2024, the company’s performance varied across its divisions, with the persistent fluctuation in inflation and interest rates eroding consumer confidence and this posed the threat of reduced spending on high-value items.
‘In spite of such factors it was gratifying to see that our overall new car performance surpassed our performance of 2023. The dedication and commitment of our staff reams ensured that vehicle turnover increased compared to the previous year, resulting in a remarkable achievement with the group recording retail turnover of £190m representing a 3.6% increase over 2023. Despite this increase in new car volume, withe the challenges faced by the industry we observed a reduction in gross profit margin.’
He concluded: ‘Overall, 2024 was undoubtedly a more challenging year than the previous. However, we continue to demonstrate exceptional resilience and as a result, we achieved a record performance and good profitability. This success underscore our unwavering commitment and professionalism of our team, ensuring our business continues to thrive even in challenging political and economic uncertainty.’
