8:27 am, September 13, 2022
Dealer group Heritage Automotive has booked a pre-tax profit of £3.32m for 2021.
Accounts for the year ended December 31, 2021 filed with Companies House show pre-tax profits for the Car Dealer Top 100 firm boomed during the year, jumping up from £534,000 in 2020.
Turnover rose from £169.4m the year before to £176.1m in 2021, despite Heritage disposing of its Jaguar Land Rover showroom in Cheltenham in May 2021.
Its gross profit margin rose from 9.4 per cent (2020) to 11.1 per cent, while its EBITDA jumped from £3.37m to £5.89m.
During the year, the firm took £510,000 in government coronavirus support, down significantly from the £1.98m it took the year before.
Heritage Automotive was founded in 1996 and holds Audi, Cupra, Honda, Seat, Skoda, Volkswagen and Volkswagen Commercial Vehicle franchises across Dorset, Bristol, Gloucester, Somerset and Wiltshire. It’s also a retailer for the Ineos Grenadier.
Blade Automotive also forms part of Heritage (after the latter’s acquisition of it in 2019) and during 2021 it relocated its Skoda showroom on Searle Cresent in Weston-super-Mare to share space with Heritage’s VW dealership on Aisecome Way.
In the year-end results, Heritage said the Skoda franchise ‘together with relevant assets transferred to Heritage Automotive at fair value’ on January 1, 2022.
Directors said they were ‘satisfied’ with the 2021 performance which was ‘reflective of the wider market’.
They added: ‘The company continues to trade profitably, is well funded and will continue to capitalise on new business opportunities as they arise.’
Image: Salisbury Audi, Google Maps
