7:00 am, July 19, 2022
Roadside Motors saw its pre-tax profit more than double last year to over £1.7m.
The independent family-owned business’s newly published accounts for the year ended September 30, 2021 show it made £1,715,281 versus £531,495 the previous year – an increase of 223 per cent.
Turnover at the dealer group in Northern Ireland was £54,490,276 – up 15.6 per cent from £47,136,899 in 2020.
After tax, its profit was £1,348,327 versus £407,062 in 2020 – a rise of 231 per cent.
Gross profit margin, meanwhile, went up by two percentage points to seven per cent, while EBITDA rose to £2,048,391 from £886,964 – an increase of 131 per cent.
Gross profit itself went up from £2,456,717 to £3,662,851 – a rise of 49 per cent – while operating profit rose by 170 per cent from £686,892 in 2020 to £1,854,487 last year.
It claimed £393,478 in government grants – aka furlough – during the year as opposed to £646,260 the year before.
In the accompanying report, the directors said the group’s performance ‘during the year continued to produce encouraging results’.
They added that they were continuing to monitor the impact of the Brexit deal.
Roadside Motors was founded in Lurgan in the 1950s and was a single-site operation until it bought Edwin May in Portadown in 1983.
Since then, it has grown to encompass seven locations across Northern Ireland and represent Citroen, Mazda, Nissan, Peugeot, Seat, Suzuki and Volkswagen.
Pictured at top via Google Street View is Roadside Motors’ Suzuki and Citroen showrooms in Lurgan
