USED car dealership group Cartime is celebrating another year of growth with a year-on-year rise in turnover of 29 per cent.
The Bury-based business achieved a turnover of £43.03m – up from £33.4m in 2018 – and a pre-tax profit of £1,154,000, which was up from £908,000 in 2018, in its results for the financial year to April 2019, which were announced today.
They come alongside a £5m investment in new premises, technology and site facilities, including £1m currently being spent on transforming a former Aldi supermarket in Rochdale into a state-of-the-art dealership, which is due to open this summer.
Cartime, which was established in 2012, is also predicting another year of heavy growth, with plans to open two further sites this year and achieve a record turnover of £100m by 2021.
Employing 91 staff, Cartime’s operation occupies a total of 3.5 acres set across two showrooms, a 70,000 sq ft preparation centre, a 70-vehicle collection centre and additional stocking facility. It is currently undergoing a recruitment drive to further increase its team, specifically within senior management positions.
The opening of the Rochdale site, which is expected to generate an additional turnover of £25m in 2019, will create a further 20 jobs.
Managing director Matt Kay said: ‘We are delighted to be celebrating another successful year of growth. What the team has achieved in the past 12 months is fantastic.
‘My original vision for the business was to provide a customer-centric experience that wasn’t available elsewhere – especially within the used car marketplace – and I believe this is something that has been instrumental in our success and really driven the company forward.
‘We’re not resting on our laurels, however. We have very strong ambitions – and projections – for the coming year, which we are expecting to accelerate our growth even further.
‘There is a lot to achieve, but we’re confident we have the systems and team to keep moving forward at the level we have enjoyed this year.’
Pictured at top is Cartime’s 4×4 centre in Bury