9:09 am, December 23, 2020
Northern Ireland’s biggest family-owned car dealership business the Donnelly Group suffered a loss of nearly two and a quarter million pounds last year.
In the accounts for the year ending December 31, 2019, which have just been filed with Companies House in Belfast under the name Donnelly Bros Garages (Dungannon) Ltd, the directors of the multi-franchise group say they are ‘extremely disappointed’ by the £2.227m post-tax deficit, which was a huge dip on 2018’s loss of £348,168.
Turnover rose marginally from £311.1m in 2018 to £311.9m in 2019.
Donnelly sells new and used vehicles, and the directors shut ‘non-performing franchises’ after a review in the latter half of 2019 identified how to make some £8m a year in cuts.
In the report, signed by company secretary Malcolm Kerr, Donnelly’s directors also tell of 2020’s ‘significant trading challenges’, with the ongoing pandemic, which forced the temporary closure of sites, continuing to have a major effect on the economy and limiting the market.
Since reopening, though, Donnelly says ‘trading has been strong and profitable’, and it now expects to make a profit for 2020.
Its main bankers have issued one-year banking facility letters as well as waiving breaches of financial covenants there may have been in 2019.
Donnelly Group was established by Peter Donnelly with a vehicle repair and taxi company in Caledon 1947.
It currently boasts 10 sites and has franchises for Abarth, Alfa Romeo, Citroen, Dacia, Fiat, Honda, Jaguar, Land Rover, Mitsubishi, Peugeot, Renault, Seat, Suzuki, Toyota, Vauxhall and Volkswagen.
Pictured is Donnelly Group’s Honda Dungannon dealership. Image: Google Street View
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