8:34 am, February 19, 2025
Family-run dealer group Hawkins Motors has bucked industry-wide trends to post an improved profit in its latest set of annual accounts.
According to documents filed with Companies House this week, the Cornish car dealer made a pre-tax profit of £3.78m in the 12 months to June 30, 2024.
The result marks a 13.5% increase on the £3.33m the outfit marked last year, despite the vast majority of other dealers reporting a slump in profits in 2024.
The accounts say that Hawkins enjoyed a year of ‘record sales’ with margins ‘holding firm’ throughout the year. As a result, the business saw turnover rise from £108.56m to £117.16m.
The remarkable achievement comes despite bosses saying last year that they were feeling ‘cautious’ about what 2024 might bring, after seeing profits fall in the company’s 2023 accounts.
This year however, bosses struck a much more positive tone as they toasted a stellar year of performance.
Writing in the accounts, directors Andrew and William Hawkins, said: ‘The company has enjoyed another year of record sales, a trend which seems to be reflected in the motor trade in general.
‘Used vehicle values have stabilised following a period of flux, though prices could be set to rise with the flow of new vehicle stock into the marketplace being squeezed by manufacturers.
‘The company experienced growth across its vehicle sales and parts departments. The company has reported another year of profit. with margins holding steady.
‘Looking forward, the company holds a significant order book for new vehicles and since the year end, has opened a new Kia showroom and premium used vehicle forecourt.’
Elsewhere, the accounts show a year of growth for Hawkins, which trades from seven different locations throughout Cornwall, representing Hyundai, Peugeot, Citroen, Kia, MG and Nissan.
When it came to staff, the average number of employees working for the company throughout the year rose from 226 to 237, with wages and salaries up almost 3% to £5.95m.
Meanwhile, directors’ remuneration rose from £190,414 to £220,920.
The full accounts can be seen here.
