9:16 am, May 20, 2014
REDDITCH-based dealer group Johnsons Cars has reported that sales broke through the £200 million barrier during 2013.
The company, which represents manufacturers including Honda, Lexus and Fiat, and has dealerships in locations such as Oxford, Liverpool and Coventry, reported that sales for the full year totalled £221 million.
This figure was up £30 million on the previous year and represented a rise of around eight per cent. Pre-tax profit was ahead slightly and stood at £1.4 million, up from £1.3 million.
Insider Media Ltd reported that the rise in turnover came from ‘a combination of additional dealerships opening and acquisitions, as well as an overall increase in business at existing locations’. Retail new vehicle sales grew by 14 per cent and used car sales increased year-on-year by 18 per cent.
In a business review that accompanied the release of the accounts, finance director Richard Martin said there was a feeling of optimism in the company at the moment and that 2014 would prove to be an important year for the group.
The company has invested a £10 million to create three new dealerships on a four-acre site on the main A34 through Solihull, to represent Volkswagen, Mazda and Volvo.
Martin indicated that the new development has ‘the potential to add significantly to the profitability of the group’.
