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 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.
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