2:36 pm, January 11, 2023
Car dealer Listers Group reported £30.5m profit for the year end March 31, 2022, nearly double 2021 (£16.4m).
The group’s annual results were published today and showed a considerable increase in revenue for the year, at £1.24bn, up from £1.02bn in the previous 12 months.
Profit before tax was £39.4m, with Listers’ Audi, Jaguar Land Rover, Mercedes-Benz, Toyota and Volkswagen credited for making the most significant contributions to this.
The dealer group saw sales of new and used cars grow, as well as average sale price and aftersales turnover.
In its strategic report it wrote: ‘The year has seen an increase of 9.6 per cent in the number of vehicles sold (excluding agency sales), with new vehicle sales increasing by 2.7 per cent and used vehicle sales increasing by 16.0 per cent.’
‘Combined with an increase in the average sale price of both new and used vehicles, and an increase in aftersales turnover of 16.0 per cent,’ it added, ‘has resulted in an increase in overall group turnover to £1,236.6 million (2021: £1,018. 1 million). The group’s overall gross profit margin was 15.1 per cent (2021: 13.5 per cent).’
Profit for the business included £3m of government support, including business rates relief and local authority grants, and £45,000 paid to the business for furloughed staff under the Coronavirus Job Retention Scheme.
Directors added: ‘We recognise our dedicated workforce as our biggest asset and key to our success. All employees are offered fair benefits relative to their role within the organisation.
‘During the year mental health awareness was one of our main priorities, following the signing of a pledge to change the way we think and act about mental health at work.
‘We relaunched our employee assistance programme which provides an extensive range of virtual services delivering holistic support to improve the medical, mental, legal and financial wellbeing of our employees.’
Picture credit: Listers Birmingham Audi/Google Maps
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