11:00 am, June 29, 2022
Bosses at Saxton 4×4 have paid tribute to the ‘tireless’ work of their staff after the dealership reported record profits for 2021.
The Car Dealer Top 100 outfit enjoyed a stellar period in the 12 months to June 30, 2021, with both profits and turnover skyrocketing.
Accounts published via Companies House show that the Essex-based luxury retailer brought in an impressive £195.3m last year.
That represents a rise of 16 per cent when compared to 2020’s turnover, which stood at £168.5m.
Of that improved turnover, over £183m came from vehicle sales with parts sales accounting for just under £3.5m. Meanwhile, services and other sales brought in £8.75m.
As a result of the increased revenue, pre-tax profits also soared for Saxton 4×4, with the firm making £8m compared to £3.3m in the previous year.
Despite 2021 starting with several national lockdowns, as the months rolled on the pandemic began to have less of an effect on the company.
That resulted in the firm claiming just £120,344 in government grants, including furlough cash, as opposed to £351,969 in 2020.
In a statement including in the accounts, director Alan Austin put the fine results down to the ‘determination, skill and operational excellence’ of staff.
He said: ‘The trading performance of the company for the year ended 30 June, 2021 has improved substantially from the previous year.
‘Revenue has grown by 16 per cent in comparison to the previous year to finish at £195.3m. The company reported for 2021, an operating profit of £18.4m and a profit before tax of £8m.
‘This result was achieved by a combination of support received by the government and the determination, skill and operational excellence of our colleagues in hugely challenging circumstances.
‘In accordance with government guidelines, the company was able to reopen the car dealership in June 2020, as lockdown restrictions were eased. The reopening required significant planning to ensure the safety of colleagues and customers.
‘The company has taken advantage of cash flow assistance measures and support announced by the government as a result of the Coronavirus pandemic, including deferral of taxation payments, business rates holiday and the furlough of employees through the Coronavirus Job Retention Scheme.
‘Our overriding priority during the Covid-19 pandemic was and remains the safety and well being of our colleagues and customers. Significant safety measures and financial investments were put in place to protect both these groups.
‘The board would like to express their gratitude to the entire Saxton 4×4 team who worked tirelessly during this period to ensure that the safety and well being of their colleagues and customers were priorities.’
