8:35 am, May 20, 2025
Bosses at dealer group Greenhous say they are ‘delighted’ with the firm’s ‘exceptional performance’ after posting improved profits for 2024.
Accounts seen by Car Dealer show that the firm made a pre-tax profit of £30.57m last year – up 16% on 2023’s £26.32m.
Turnover also soared by 20% to £1.79bn boosted by improved fleet and retail sales, which were up 25% and 39% respectively.
Overall, the documents show that Greenhous shifted 74,000 units in the 12 months ending December 31, 2024, with the firm especially pleased with healthy truck sales, which ‘remained strong and consistent’ despite a ‘turbulent market’.
Looking ahead, bosses are hoping to keep Greenhous on an upward curve, aided by a number of new franchise agreements.
The retailer has recently signed up with the likes of Omoda, Jaecoo, Corvette, Citroen, Peugeot, Leapmotor and BYD, which directors hope will result in even more growth in 2025.
Writing in the documents, director Derek Passant said: ‘At a time when dealers in general are reporting reducing profits, I am delighted to report that we continue on an upward trend.
‘During 2024 we increased turnover by 20% and pre-tax profits by 16% over the 2023 results.
‘This we consider to be an exceptional performance on behalf of our employees, who continue to show a willing dedication to the business.
‘The strategic objectives of which we set ourselves for 2024 were in the main achieved.
‘Our plan to diversify away from the normal dealer and manufacturer model enabled us to outperform the industry in general, and while our relationships with manufacturers are the core of our business, we will continue to expand the other customer offerings that we have been developing over the last few years which is enabling Greenhous to grow our customer base.
‘As always at the forefront of our mind are the service levels that we provide which is vital to our business model.’
Elsewhere in the accounts, Greenhous saw gross margins dip slightly to 7.28%, compared to 7.36% last time out.
The firm was also faced rising staffing costs, as the company continued to grow. Overall, the group shelled out £77.31m on its employees, with the size of the workforce increasing from an average 1,473 to 1,661.
Among those to receive a pay rise was the group’s highest paid director, who pocketed £1.54m compared to £896,000 in 2023.
