Glyn Hopkin reports record turnover and profits

Time 2:50 pm, February 12, 2016

GLYN HOPKIN, one of the leading automotive groups in the South-East, has announced a record 31 per cent increase in profit after property disposals and before tax.

This is from a turnover that rose 20.2 per cent to £419,436,000 versus 2014. It’s another very impressive result for the fast-growing business, which now employs over 700 staff across more than 30 dealerships.

Between January 1 and December 31, 2015, Glyn Hopkin dealerships sold more than 27,500 vehicles, representing an uplift of 12.3 per cent compared to 2014.

The group also achieved significant increases within its aftersales business, with turnover up 17.7 per cent to £39,855,141, and gross profit up 16.7 per cent to £17,303,924.

Fraser Cohen, pictured, managing director of Glyn Hopkin, said: ‘Since Glyn Hopkin first started trading in January 1993, the group has always aimed to improve, year after year.

‘We have exceeded our previous record from 2014 thanks to a sound business growth plan and consistent hard work from a creative team that constantly challenges itself to do even better.

‘Our organic growth is fuelling our expansion into new territories and with new brands. Notably we have recently opened a new Nissan/Fiat dealership in East London, as well as a Nissan, Fiat and Jeep dealership in Cambridge and new Renault-Dacia showrooms in Chelmsford and Colchester.

‘We are proud that our expansion has not resulted in an increase in long-term borrowing or distracted us in 2015 from again achieving record results. We remain very ambitious and will push for further growth through 2016 and beyond.’

Glyn Hopkin’s short-term goal is to reach a turnover of half a billion pounds within the next two years. Glyn Hopkin’s first dealership, Nissan in Romford, opened in January 1993 and the group now has more than 30 dealerships across London and the South East, representing 12 brands.

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Dave Brown's avatar

Dave, production editor on Car Dealer Magazine, is a journalist with more than 30 years' experience in the worlds of newspapers, magazines and public relations.

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