8:26 am, March 21, 2023
Ron Brooks Motor Group has announced improved profits for last year as the firm celebrated its 60th anniversary in style.
The East Midlands dealer group posted a pre-tax profit of £1.51m in the year ending June 30, 2022 – an improvement of around 20 per cent when compared with the £1.25m it made in 2021.
Turnover also improved from £34.2m to £47.8m as vehicle sales soared by 10.9 per cent versus the previous 12-month period.
The impressive results were achieved despite the end of all government support, which helped companies thrive during the pandemic. This was the first set of accounts not to include furlough cash, which last year totalled £125,496.
Throughout the year, Ron Brooks paid out £2.69m in wages and salaries – a slight rise on 2021’s £2.12m.
Accounts published via Companies House showed that the firm ended the year with almost £5m in cash reserves.
Bosses say the company is now ‘exceptionally well placed’ going into 2023, after celebrating its 60th year of trading last year.
It currently operates one Suzuki dealership and two Toyota sites in Mansfield and Ilkestone, both in the East Midlands.
The group has now represented Toyota for more than 50 years, which is believed to be the longest for any retail partner in the UK.
Despite the impressive results, though, there was some sad news in 2022 with the death of co-founder Elsie Brooks at the age of 92.
She died peacefully on August 11, having been a director of the company from the day it was established 60 years previously – July 1, 1962.
Group chairman, MD and son-in-law Kevin Slack described her as a ‘special lady with strong principles’.
Fellow director Tom Slack said the period had been ‘difficult’ for the business but he paid tribute to the ‘unrelenting level of operational excellence’ that made the latest results possible.
‘Ron Brooks has now had five years of consecutive record profit growth, which has also seen turnover almost double,’ he told Car Dealer.
‘This is without any acquisition, which shows the strength of our underlying business model to outperform the market in every circumstance.
‘Clearly, the automotive industry has enjoyed some tailwinds as of late – but our long-term record of outperforming the market outside of this and every year either side of Covid gives us tremendous confidence.
‘There are a number of new and immediate challenges to the market. However, we believe we are exceptionally well placed to navigate these and continue to grow.
‘As a highly successful business, we continue to assess many opportunities for further growth. These have to be right for the business, including the partnerships we consider.’
He added: ‘This year has been difficult for the business, as we saw the passing of Elsie Brooks, the co-founder of our business, which is now over 60 years old.
‘That said, we are pleased with all our colleagues’ efforts to ensure the business continues to deliver an unrelenting level of operational excellence and industry-leading customer service.’
