Stoneacre Motor Group’s revenue earlier than tax soared by 63% to ship a report set of annual monetary outcomes for 2021/22.
The South Yorkshire-based AM100 automobile retail group’s pre-tax income rose from £24 million to £43m as turnover rose by 37% to £1.3bn within the yr to the tip of April 2022.
Its report outcomes come 12 months on from a 2020/21 trading period in which its profits rose by nearly 170% to £26.4m (2019/20: £9.8m).
Stoneacre managing director Shaun Foweather mentioned: “On behalf of the board, I wish to thank our wonderful staff who’ve labored tirelessly to ship such a improbable efficiency which is as a result of power of our folks tradition, multi-faceted gross sales channels, in home operations and supportive franchise companions.”
A press release issued by the enterprise, which operates 144 franchised places at 83 websites, mentioned that its 2021/22 operational efficiency had delivered vital like for like development in all departments.
It reported that new and used car gross sales had elevated 17% to 60,000 items, regardless of new and used automobile provide shortages, whereas its aftersales enterprise grew 21% to £110m.
The Commerce Components Specific enterprise – developed by means of the acquisition of a 65,100sq-ft warehouse facility in Doncaster in January 2021 – additionally helped to assist OEM distribution networks with revenues now in extra of £50 million, it mentioned.
Stoneacre’s outcomes assertion added: “With very low gearing, working capital in extra of £54m and internet belongings of over £170m the corporate is properly positioned to face the challenges forward and assist additional development ought to appropriate alternatives come up which strengthen the Stoneacre portfolio.
“We proceed to concentrate on our folks with good work/life stability advantages and wonderful profession prospects.
“We are actually in our seventh yr with the Stoneacre Coaching Academy which trains our groups and assists in creating our ongoing administration staff.
“Our continued funding within the Academy has resulted in 96% of apprentices being absolutely employed in a ‘Profession for Life’ with many having progressed to administration positions.”
Throughout the 2021/22 buying and selling interval Stoneacre elevated its Toyota, Lexus and Renault/Dacia illustration with the June 2021 takeover of RMB Motor Group, finishing the acquisition of Jardine Motors Group’s Toyota dealerships in Durham and Sunderland two months later.
In the meantime, its Stoneacre Academy training facility was awarded an outstanding rating by Ofsted.
The group mentioned this week that it stays acquisitive and would focus on any franchise alternative with both supplier teams, proprietor drivers, stakeholders, current or potential franchise companions.
Franchise and improvement director Philip S Wade may be contacted by way of 0776 7331 332 or email@example.com.