7:48 am, April 5, 2023
A single franchised car dealership is celebrating impressive financial results which saw it generate a staggering £1.8m profit in a year.
Accounts just filed with Companies House for BRD Retail Ltd – the company behind Burton Kia – show it increased turnover in 2022 to £24m from £18m the year before.
Profit before tax for the dealer’s year, which ended in August, was up from £820k in 2021 to a whopping £1.79m – a gross margin of some 11 per cent.
Burton Kia is based in Burton-upon-Trent and is one of the largest Kia franchises in the UK. It has capacity for 100 used cars and a large showroom for new Kia models.
Although the number of sales of new and used cars is not detailed in the accounts, sales revenue amounted to £22m, the sale of services added £1.9m, both up on 2021.
Managing director Charlie Bullock exclusively told Car Dealer: ‘We’re incredibly proud of last year’s achievement especially taking into account the trouble with new car supply and the competitive nature of used car supply.
‘Over the years we’ve built up a very transparent relationship with our customers and as we’re a family run business this transparency is key to the trust our customers have in us.
‘Our service department keeps seeing growth year on year and it’s now in the top 10 out of 190 Kia dealers for labour and hour sales. The Kia brand keeps flourishing so we’re in a great place to keep performing well right into the future.
‘I’d also like to pay tribute to my late father, Ian Bullock who sadly passed away in May 2022. He built the company’s philosophy and work ethic it still very much has today. He was a very prominent figure in the Kia network sitting on the Kia Forum for the region. He is sadly missed by all.’
Bullock revealed the dealership sold 390 new cars and 650 used cars during the year.
In the directors’ report in the accounts, the firm added: ‘With a highly experienced management team, the company prides itself on working hard to deliver class leading value and service.
‘2022 was another record year for Burton Kia. We go into the new year with a very healthy new car order bank supported by a very good appetite for more new car orders from our customers.’
The directors said they feel they will ‘at least match’ the performance achieved in 2022 in terms of both revenue and profit.
The added: ‘It’s still a very exciting time to be involved with the Kia brand with the future outlook of new car supply ever improving against its competitors and the brand’s best ever year of new car sales in 2022.’
Burton Kia is due to refurbish its current premises to meet new manufacturer standards which the firm says will ‘give a more modern look and match Kia’s all new branding’.
In 2022, Burton Kia was the only UK recipient of the Platinum Prestige Dealer Award, which is given to just three per cent of Kia dealers globally for exceptional performance across sales, aftersales and customer experience.
The full accounts can be viewed on Companies House.
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