Dealer group Marsh Wall has signed off its 2022 accounts which show increased turnover and pre-tax profit.
New accounts published on Companies House show the Middlesex-based company – which trades under Berry and Berry Group – reaped the rewards of expanding its operation over the past three years, with positive profit results.
Pre-tax profit soared by 41 per cent to £12m, while EBITDA and gross profit rose to £13.3m and £41.2m respectively.
Turnover, meanwhile, jumped by 22 per cent to £313m.
During the year, the company refurbished its Cooper Banstead Mini dealership and transformed it into a multi-franchise used car sales site and as a BMW/Mini approved service centre.
Once opened, the site will carry the Berry Select Cars and Berry Banstead names.
The Car Dealer Top 100 outfit also began installing electric car chargers at all of its sites, and solar panels at its Berry Croydon and Berry Cobham showrooms.
The company has six BMW showrooms across Surrey and the Greater London area, four of which also carry the Mini franchise.
Looking ahead, directors said: ‘Trading in 2023 started strongly, and whilst we expected a shortage of used cars in the market due to the closure of factories during 2020, the new vehicle supply will remain tight as targeting for 2023 remains lower than 2022, reflecting continued issues with supply of microchips and natural resources. This will result in higher unit profitability.
‘Our aftersales departments will continue to perform strongly given the high demand in the inner M25.
‘We expect results to be in line with out budgeted profit predictions for 2023.’