10:57 am, November 4, 2025
William Morgan Group turned a £2.7m profit in 2023 to a £72,000 loss 12 months later after ‘a year of significant change’, earnings show.
Latest accounts for the Northampton-based BMW, Mini and BMW Motorrad dealer show the effect of redeveloped businesses, a new franchise, and performance ‘below internal targets’ at one site had on the business.
For the year ended December 31, 2024, revenue came to £226.1m – down from the £229.8m achieved over the same period in 2023.
But the small decrease in turnover was contrasted by the reversal of 2023’s pre-tax profit to £72,308 loss in 2024.
The ‘year of significant change’ saw the redevelopment of its Northampton site, along with a new franchise taken out with Ineos.
William Morgan Group undertakes the Ineos franchise through its Adventure Automotive UK division, which reported a trading pre-tax loss of £122,000 on turnover of £660,000 during 2024, while gross profit stood at £181,000.
The pre-tax loss for Adventure Automotive UK reflected ‘the early-stage nature of the brand [Ineos] as it establishes itself in the UK market’.
Directors put William Morgan Group’s lower revenue mostly down to reduced car sales volumes.
The decline was ‘partly attributable’ to its Wollaston Motors business operating from a ‘smaller temporary site without a showroom or used car forecourt’ from August 2024, while its North Oxford Garage fell below ‘internal budgets and the prior year’. The group said ‘significant changes have been made across the business in response’.
This set-back was helped in a growth in used motorcycle sales, resulting in overall vehicle unit sales rising to 6,031 – a 42-unit rise on 2023’s performance.
Looking ahead, directors said: ‘The group looks forward to the opening of Wollaston’s new retail premies in 2025 and to improved performance at North Oxford Garage, supported by the strength of the BMW, Mini and BMW Motorrad brands, the growth potential of the Ineos Grenadier franchise for Adventure Automotive, and the group’s established customer base.’
