10:37 am, September 8, 2026
Toyota dealer group Lindop saw pre-tax profits surge more than 500% last year despite a fall in turnover and lower used car sales.
Accounts for Steve Hopewell Holdings Limited show the business made a pre-tax profit of £546,358 in the year to December 31, 2025, compared with £87,200 in the previous 12 months.
Operating profit also increased sharply, from £277,587 to £742,685, while the group returned to a £393,872 profit after tax following a £14,366 loss in 2024.
The improvement came despite turnover falling 11.2% from £57.2m to £50.8m.
In their review of the year, directors said sales of goods, particularly used cars, declined, although this was partly offset by a 17.7% increase in service revenue.
Gross profit rose 12.3% to £5.76m and gross margin improved from 8.96% to 11.33%, while administrative expenses increased 3.4% to £5.01m.
Explaining the sharp rise in profits, directors said: ‘The improved result reflects the stronger gross profit performance and the return to normal trading following completion of the major refurbishment at the Queensferry business during 2024.’
A breakdown of turnover shows sales of goods fell from £54.44m to £47.56m during the year, while revenue from servicing increased from £2.70m to £3.18m.
The figures mean Lindop was able to deliver a significant improvement in profitability despite generating more than £6m less revenue than a year earlier.
The business, which operates Lindop Brothers dealerships in Queensferry and Wrexham, is now preparing for another major investment in its estate.
Directors said the company would continue to invest in its premises to maintain manufacturer standards, including a planned refurbishment of the Wrexham business during 2026.
They added that existing borrowing levels and trading prospects meant they were confident the work could be funded without putting undue strain on the company’s resources.
Vehicle stocking finance reduced slightly from £4.14m to £4.04m during the year, while average employee numbers increased from 89 to 94.
And the group appears to have carried its improved performance into the current year, with directors adding simply: ‘Trading in 2026 has been strong.’