Benfield profits doubled in 2013

Time 8:45 am, July 24, 2014

DSC_0062BENFIELD Motor Group’s pre-tax profits have more than doubled, reaching £7.4m.

Pre-tax profits in the 2013 calendar year were up 137 per cent on 2012, while turnover climbed 15 per cent to £622.4m.

The group noted a 23 per cent rise in private consumer vehicle registrations plus a 26 per cent rise in registrations for fleet and business customers.

Mark Squires, chief executive of Benfield Motor Group, commented on the figures while noting an increase in consumer confidence.

He told Insider Media: ‘We are very pleased with our group profits for 2013.

‘We have seen pre-tax profits rise from £3.1m to £7.4m and already customer confidence in 2014 is high.

‘Our new retail sales are 18 per cent up and used-car sales up 6 per cent and our total sales are 11 per cent up year-to-date.’

So far in 2014, Benfield has continued to expand with the construction of two new dealerships beginning in Sunderland and Newcastle.

Addison Motors, owners of Benfield, also revealed in their accounts that their number of employees has risen to 1,591 in 2013, representing a rise of 123 staff on the previous year

Rebecca Chaplin's avatar

Rebecca has been a motoring and business journalist since 2014, previously writing and presenting for titles such as the Press Association, Auto Express and Car Buyer. She has worked in many roles for Car Dealer Magazine’s publisher Blackball Media including head of editorial.

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