8:09 am, December 8, 2022
Supercar and classic car dealer Tom Hartley Junior clocked up £11.3m profit before tax from selling just 102 cars.
The luxury car dealer, based in Ashby De La Zouch, specialises in classic cars and sells them all over the world.
Current stock at the dealership includes a 1965 Ferrari 275 GTS, a 1960 Aston Martin DB4GT and a 1973 Ferrari Dino.
In accounts just filed at Companies House, Hartley Junior reports his dealership turned over £114.9m in the year to the end of April, 2022.
He sold 102 cars and chalked up operating profit of £11.3m.
In the previous year, turnover was £104m and profit was £6.5m.
Sales volumes fell from 107 cars in 2021 to 102 in 2022 – a drop of five per cent – however the business made more money, with its operating margin up to 9.9 per cent.
The annual report said: ‘The principal activity of Tom Hartley Jr Limited is the acquisition and sale of classic cars alongside an inventory of modern supercars.
‘The business model is very different to most competitors due to the fact that the company aims to buy most of its inventory, compared to just brokering cars like many others who operate at this end of the market.
‘This enables Tom Hartley Jr Limited to potentially earn a greater gross margin as they bear the full risk, however due to this inherent risk element the director’s market knowledge on the particular cars and gut feeling of the market is very important.’
Tom Hartley Junior – son of supercar dealer Tom Hartley – also deals in modern supercars, like his father.
A Ferrari 488 Pista is for sale at £335k, a Porsche 918 Spyder up for £1.3m and a 2003 BMW M3 CSL is for sale at £99,500.
During the year the business paid out a £1m dividend to Hartley Junior.
The report added: ‘When we first opened our doors in 2014, our aim was to be the destination to buy or sell a significant classic or performance car, and our track record over these fruitful years demonstrates the direct impact we have had on bringing many of the world’s most significant cars to market.
‘Our reputation is built on the amazing results we have been able to achieve at the highest end of the market, and we are proud to provide our services to numerous clients from all corners of the globe.
‘From our private showroom in Ashby De La Zouch, we have worked hard to establish a true global reach, with overseas markets extending from the USA to New Zealand.’
Hartley Junior was also very proud to be named on the Sunday Times Top Track 250.
He added: ‘It is with the greatest of pride to be included in this distinguished list.
‘Out of the 250 companies included we are the only classic and performance car dealer on the list and are extremely proud to boast the smallest number of employees of any other company included, confirmation we continue to punch above our weight!
‘With just 11 of us in total, the next nearest on the list is a consumer product distributor with 25 employees, and only 8 others included have under 100 employees with several others having over 10,000! This is a testament to the quality of our team.’
Hartley Junior added that he was looking forward to ‘another fantastic year’.
He said: ‘We are excited to continue to have the privilege of handling some incredible cars, which is, after all, the passion that unifies us all within the industry.’
Car Dealer recently published the first in its Selling Supercars series which features some of the biggest luxury car dealers across the UK. The first features Romans International and can be seen below.
