11:11 am, November 23, 2022
Chapelhouse Motor Group has seen its pre-tax profit rise by 51 per cent to more than £5m thanks to strong demand for new and used vehicles.
In its newly published accounts, the dealership – which has showrooms across the north-west of England – said it made £5,005,255 during the year to June 30, 2022 versus £3,348,055 the year before.
Turnover, meanwhile, shot up from £74,713,702 to £95,056,342 – an increase of 27 per cent.
Gross margin increased from 15.4 per cent to 16.1 per cent, which Coen said was thanks to strong trading across the group.
Its return on sales (aka net profit margin) was above the national average for car dealers, with a return of 5.3 per cent during the year.
The Car Dealer Top 100 firm claimed £29,974 in government grants during its financial year – substantially down from the £1,284,146 it received over the previous 12 months.
The average monthly number of people employed during the year dropped by 20 to 217.
Nicholas Coen, the director who signed off the strategic and directors’ reports, said: ‘The directors are satisfied with the performance of the company and look forward to this continuing.’
He added that Chapelhouse – whose franchises include Kia, MG and Suzuki – had been left ‘in a position to continue to deliver the excellent customer service it strives for, as well as being in a position to capitalise on any market opportunities that would complement and enhance the group’s current offerings’.
Coen said the board was ‘confident that the group will maintain its strong position within the market’.
He added: ‘The directors would like to place on record their sincere thanks to the dedicated and talented staff employed throughout the group, without whose efforts the group would not continue to thrive.’
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