5:52 pm, March 27, 2013
H.R. OWEN’S performance for 2012 proved strong, according to the firm, with profits hitting £2.3 million – an increase of over 27 per cent.
The results are likely to be no surprise to the firm – we reported in January this year that H.R. Owen was expecting good results.
Revenue for HR Owen was also up 26 per cent, reaching £243.5 million in 2012 – following similar boosts to other ‘premium’ dealership groups such as Inchcape and Stratstone, likely helped by the increased popularity of manufacturers such as Land Rover.
H.R. Owen puts the progress down to a number of key improvements – both to its systems, marketing and dealership infrastructure.
The firm’s flagship Rolls Royce dealership in Berkley Square went through a complete refurbishment earlier in the year, with performance since the re-opening described as ‘particularly strong’.
H.R Owen’s marketing also had a boost – with a new ‘identity’ rolled out across the group. Meanwhile, the firm’s new website and ‘Drive’ magazine were also launched – with the former resulting in a year-on-year doubling of website visitors. The firm also suggests that their greater investment in PR gave them significantly increased media presence throughout the year.
‘A strong performance across the board meant we outperformed the market and delivered substantial revenue and profit increases,’ said H.R. Owen’s chief executive, Joe Doyle.
‘Our strategy is succeeding in delivering both growth today as well as laying important foundations for the future growth of the business. The successful integration of the Broughtons’ business and its return to profit, plus strong organic growth, demonstrates our capacity to expand the business.’
