5:51 am, October 9, 2022
Used car supermarket Big Motoring World is on the hunt for more businesses to snap up as it looks to expand further.
Bapchild Motoring World, owned by Peter Waddell, saw revenue grow in 2021 – but profit fell.
However, it has revealed in its latest accounts posted with Companies House, that it’s on the lookout for ‘further opportunities’ to expand.
Big Motoring World revenue increased from £304m in 2020 to £370m in 2021.
Some £348m came from car sales, £10.8m from finance commission and £11.5m from warranty sales.
Profit before tax dropped to £6.6m from £8.7m in 2020.
That didn’t stop the group paying out dividends of £9.6m to directors during the year.
During the year, the used car supermarket group bought SW Car Supermarkets in Peterborough for £11.3m and has been busy integrating them into the business.
It has shelled out on renovating and rebranding the sites into Big Motoring World dealerships.
The group now operates from five locations in Kent, North London and Peterborough.
Writing in the annual accounts, just filed at Companies House, Waddell said: ‘Day to day, the business looks to increase its volume and profitability by offering the highest standards and most competitively priced range of stock from its five locations.
‘Having integrated the two new Peterborough sites into the business it will focus on driving scale efficiencies to enhance the quality of its stock offering.
‘As well as driving the efficiency arising from its current footprint, the company is actively seeking further opportunities to expand operations beyond its South East base, in order to fully capitalise on its operating facilities and retail expertise.’
The company now has 500 staff spread across its five sites in West Malling and Bluebell Hill, Kent, Werrington and Fengate, Peterborough, and in Enfield, London.
The business also refurbishes cars at its 14-acre bodyshop in Peterborough.
It was here that Car Dealer visited when Waddell was preparing to launch the now-defunct Carzam online business with John Bailey. You can see the centre in the video above.
Bailey, was a director of Big Motoring World, but resigned at the end of 2021 when the pair split their businesses following the closure of Carzam.
At the balance sheet close, Carzam owed Big £307k.
Waddell was pleased with Big’s performance overall, adding: ‘Given the events and challenges of 2021, the financial position at the year-end is considered highly satisfactory by the directors.
‘The positive outcome is borne of the underlying financial strength of the business, combined with its ability to rapidly adapt and scale in accordance with the fluctuations in trading during the year.
‘The company continues to advertise heavily but effectively in order to create greater customer awareness of the company and broaden the location of its customer base.’
Car Dealer reveals the most profitable dealers in its Top 100 list every year. Find out who last year’s winners were here.
