Classic and performance car dealership Tom Hartley Jnr suffered a pre-tax profit slide of a quarter to just over £6.5m, its latest annual figures show.
Its accounts for the year to April 30, 2021, filed with Companies House, reveal that the Car Dealer Top 100 company made £6,527,716 – down from £8,721,208 for the corresponding period over the previous 12 months.
Meanwhile, government grants – otherwise known as furlough – amounted to £1,508 versus £1,391 the year before.
Vehicle sales went up by 19 per cent from 90 to 107 but sales turnover fell from £132,502,589 to £104,396,232 – a drop of 21 per cent – although that was attributed to an extremely high-value car that was sold in 2020.
Ordinary dividends totalling £208,250 were paid. However, sole director Tom Hartley Junior didn’t recommend a further dividend payment.
The average monthly number of employees at Tom Hartley Jnr, which is based in private premises in Ashby-de-la-Zouch, rose by one to 11, with an extra person taken on in the admin and marketing department.
In his report, Hartley Junior said the company hadn’t felt the impact of Covid, writing that ‘trade has continued as normal throughout the pandemic and there are currently no indications that this will change’.
He added: ‘In the unlikely event of a downturn in business, the company reserves are at a level that would support the company for a significant period of time.’
Hartley Junior said the business had clients right across the globe, from the USA to New Zealand, and stated: ‘The company has delivered a very strong performance in the year.
‘We are happy with the results for the period and also the strong financial position that the company is in.’
Among the highlights of the year was the dealership’s inclusion in the Sunday Times Top Track 250, which ranks Britain’s private mid-market growth companies with the biggest sales.
It was the only classic and performance car dealer on the list, and Hartley Junior stated: ‘It is with the greatest of pride to be included in this distinguished list.
‘Our business has grown from strength to strength throughout the years, and I would like to say a big thank you to my dedicated team who are an integral part of the business’s success.’
He added that the company was ‘extremely proud to boast the smallest number of employees of any other company included’, which he said was ‘confirmation we continue to punch above our weight!’ and ‘testament to the quality of our team’.