IM Group boss Lord Edmiston was handed £76m dividend last year despite an 8% decline in revenues at the Subaru and Isuzu importer and franchise operator.
TC Harrison has highlighted the negative economic effects of the Brexit vote in a set of 2017 annual financial results which show an 8.7% fall in profit before tax.
Swansway Group’s 2017 annual financial results have revealed that profits remained flat despite a 40% increase in turnover during the period.
JCT600 has reported a 2% rise in turnover to £1.25 billion in the face of “challenging market conditions”, adding that it expects “fierce competition” to continue in the automotive retail sector.
Drive Motor Retail has delivered a 117% rise in profit before tax despite a 3.3% dip in revenues in its annual financial results to December 31, 2017 - following the sale of freehold property.
Jennings Group managing director Nas Khan has revealed that the group cancelled plans for a new £6m flagship FordStore dealership due to the effects of Brexit and uncertainty over the future of diesel vehicles.
Caffyns has reported a 16% decline in operating profit despite rising revenues in annual results which detail the “very disappointing” performance of its volume car brands in 2017.
Hendy Group has reported a 42% increase in revenues and 163.7% increase in profit before tax in its first set of annual financial results since the acquisition of the Lifestyle Europe car dealership group.
Imperial Cars has set ambitious target of reaching 20 used car retail sites by the end of 2019 after growing from six to 11 sites in three years as it takes advantage of property movements in the franchise dealer networks.
Vertu Motors chief executive Robert Forrester has insisted that he is not under pressure from shareholders to deliver growth through acquisition after reporting reductions of 0.9% in turnover and 9.2% in profits in the group’s annual results.
Independent car retailer Cartime is already celebrating a bumper 2017/18 ahead of an anticipated end-of-year turnover of £34 million – 20.5% up on its previous reporting period.
Seat will enter the EV race in 2020 when it launches its first fully-electric vehicle as part of a new model offensive which will see a new vehicle launched every six months from 2018.
Marshall Motor Holdings has reported a 19.5% increase in turnover and a 14.4% rise in underlying profit before tax in a set of annual financial results hailed as “excellent” by chief executive Daksh Gupta.
Inchcape has reported that the global reach of its automotive retail and distribution businesses helped to offset the UK market’s “slower growth” in 2017.
Stoneacre Motor Group is once again on the “acquisition trail” after securing the whole of Nottingham-based Chris Variava car dealership operation for an undisclosed sum.
Cambria Automobiles chief executive Mark Lavery has highlighted the group's “cast iron balance sheet” after reporting a 4.9% rise in revenues and underlying profit before tax up 6.6% in its full-year financial results to August 31.
Luscombe Motors recorded a 24.5% rise in profit before tax and a 5.3% increase in turnover following a restructure which made the business “less reliant on the managing director”.
Motorpoint Group PLC has said that it expects to report revenue growth of over 18% during the first half of 2017, compared to the same period last year.
Vantage Motor Group has posted a pre-tax loss of £134,000 despite realising a record turnover of £262m – up 25% on 2015.
BCA Marketplace profit before tax boosted to £41.1 million and group revenue has increased from £1.2 billion to exceed £2bn.
