‘Remarkable’ results for supercar dealer Romans International Group as profits rise despite turnover dipping

  • Romans International Group made £2.9m pre-tax profit last year versus £2.3m in 2021
  • Turnover slipped by 1.1 per cent to £117.4m, though
  • Gross profit was up by 25 per cent to £7.2m – a key performance indicator, says Romans

Time 8:10 am, September 23, 2023

Romans International Group managed to increase its pre-tax profit last year despite turnover slipping.

The Banstead-based supercar dealership said in its newly published accounts that it made £2,913,327 profit before tax for the year ended December 31, 2022 versus £2,320,167 in 2021 – a 26 per cent increase.

Gross profit hit £7,224,946 as opposed to £5,783,048 in 2021 – a 25 per cent rise that was highlighted in the accompanying report as a key performance indicator.

The profits were made on a turnover of £117,434,502, which was 1.1 per cent down on the previous year’s £118,771,106.

In the report, sole director Paul Jaconelli hailed the overall results as ‘remarkable’.

The report states that ‘the director considers the overall results are remarkable due to the unprecedented impact of Covid-19 on the business and restrictions placed by the government during the year to tackle Covid-19’.

Jaconelli added that by the end of the year, the Romans group was well placed to benefit from the improving market conditions.

Tom Jaconelli Romans International
Tom Jaconelli is head of the buying department and marketing team at Romans International

Ordinary dividends amounting to £156,000 were paid but Jaconelli, who is the founder, chairman and owner of Romans, didn’t recommend paying a further dividend.

Looking ahead, Romans said it was aiming to expand its trading footprint in order to cater for more stock.

Car Dealer Magazine went behind the scenes of Romans International last year for the first instalment of our YouTube series Selling Supercars.

In it, Paul’s son Tom, who is in charge of the buying department and leads the marketing team, talks about the staff who bought their boss a £2m-plus Bugatti.

He also tells of the time when a customer turned up on a moped and bought a £1m Aston Martin One-77!

You can watch the video at the top of this story.

Car Dealer reveals the most profitable dealers in its Top 100 list every year. Find out who the latest ones are here.

John Bowman's avatar

John has been with Car Dealer since 2013 after spending 25 years in the newspaper industry as a reporter then a sub-editor/assistant chief sub-editor on regional and national titles. John is chief sub-editor in the editorial department, working on Car Dealer, as well as handling social media.

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