Bosses at supercar dealership Amari have paid tribute to their ‘loyal and long standing’ workforce after the outfit saw profits rise by a whopping 550 per cent in just one year.
Accounts published via Companies House show that the company enjoyed spectacular growth in 2021 with figures dwarfing the previous year’s results.
The firm turned over an impressive £40.33m in the 12 months to December 31, 2021 – a 140 per cent rise on 2020’s £16.9m. The vast majority of the improved income (£39.16m) came from the sale of vehicles.
As a result of the extra takings, Amari was able to boost its profits to record levels in 2021. The firm booked a pre-tax profit of £2.45m, representing a 447 per cent year-on-year rise from the £378,427 it made in 2020.
The firm’s operating profit margin also grew to six per cent during a year of spectacular growth for the Preston-based dealership.
In a statement included in the accounts, director Saba Syed put the results down to ‘buying the best cars and selling them to the best buyers’.
He said: ‘The company ethos is simple. Amari Lifestyle, trading as Amari Supercars, buy the best cars and sell them to the best buyers, utilising years of experience which allows us to offer only the exceptional examples.
‘The business model is unique in that the company aims to buy its stock unlike competitors who predominantly sale or return vehicles.
‘The demand for cars is greater than ever, this is where the company its strength and buying power over other dealerships who do not have the wealth of knowledge or experience that is offered at Amari Supercars, coupled with excellent buying power not reliant on external funding.’
Throughout 2021, Amari spent a slightly increased £173,371 on employees wages and salaries, despite average staff numbers falling from 16 to ten.
Syed thanked staff for their hard work and making the vastly improved financial results possible.
He added: ‘The company employs loyal and long standing members of staff, each with a unique set of skills.
‘Staff are rewarded well, instilling confidence in the employee that they have complete job security and the company’s market position remains that of a leader.’
Two years ago, Car Dealer spoke to Amari’s long-standing owner, Sheikh Amari. See our full chat below: