7:00 am, November 24, 2022
Car supermarket Hilton Garage has suffered a pre-tax profit drop of 31 per cent to £2.7m.
The Derby-based business revealed in its newly published accounts for the year ended May 31, 2022 that its pre-tax profit went down from £3,889,265 during the previous 12 months to £2,685,826.
That was on a turnover that went up by 13 per cent from £106,862,757 to £120,814,455.
But in the accompanying strategic report, director Richard Manning said the board was pleased with ‘another year of strong trading performance in what is a highly competitive market’.
And despite uncertainty within the industry, the family-run Hilton Garage – which has been in business for more than 45 years – aims to expand and bring in more money.
Looking ahead, Manning said: ‘Trading conditions are expected to be as competitive as 2022 and volatility within the marketplace is expected, given the uncertainty surrounding customer fuel preferences and future potential legislative changes.
‘However, the company does anticipate continued expansion and increased revenues.’
The average number of employees during the year rose by 14 to 117, mainly in the administrative division.
A total of £73,500 is being distributed as dividends.
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