6:48 am, August 14, 2025
Family-run Lloyd Motor Group saw turnover creep towards the £1bn mark last year, but pre-tax profit slipped by over 14%.
Latest accounts for the year ended December 31, 2024 show that the Car Dealer Top 100 firm raking in £939.8m in revenue, representing a 7.9% increase on 2023’s performance.
Some £843.8m came from the sale of new and used vehicles, while parts and servicing sales came to £84.8m and other sales were £11.1m.
However, pre-tax profit slipped by 14.6% from 2023’s £20.6m to £17.6m, while profit after taxes totalled £12.4m, down 14.8%.
EBITDA for the year came to £25.9m, down 7.2%.
The rise in revenue but fall in pre-tax profit followed a similar ratio in 2023, where turnover rose from 2022’s £727.377m to £870.985m and pre-tax profit slumped by 15%.
In the accompanying report for the year, signed on behalf of the board by director Samuel Lloyd, the company said that it was satisfied with the overall performance across its business during what it termed ‘challenging trading conditions’.
Aggregate emoluments for directors rose from £876,000 to £883,000, with the highest-paid director receiving £685,000 – up by £51,000 on 2023. A dividend of £330,000 was recommended – the same figure as in 2022 and 2023.
During the year, the firm acquired North Tyneside BMW and Mini dealership for £6.9m, and the entire ordinary share capital of N. & M. Walkingshaw Limited. The acquired business operates VW and Kia franchises in the West of Cumbria, with the trade and its assets being hived up into Lloyd Motors Limited on July 31, 2024.
So far in 2025, the business has acquired Carlisle Skoda for £2.4m, and secured a franchise from Ineos as the manufacturer sought to remodel its dealer business in the UK.
Looking ahead, Lloyd said that he looks ‘forward to achieving a high level of profitability in 2025 subject to the overall market and economic trading conditions being maintained throughout 2025’.
