Commerce Centre Group opens seventh used automobile grocery store after earnings hit £22m

The Commerce Centre Group has expanded right into a seventh used automobile grocery store web site after delivering document profitability in its 2021 annual monetary outcomes.

The Neath-based impartial automobile retailer delivered what it described as an “industry-leading” 8.5% return on gross sales (RoS) because it returned a per-tax revenue of £22 million from a turnover of £258.2m in its buying and selling interval to November 30, 2021.

Chief govt Tim Carr stated “We’re extremely happy with the crew and the outcome throughout a 12 months through which we had zero income for a lot of the opening 5 months.

“This week noticed us open our seventh retailer at Birmingham South, our third retailer within the West Midlands complementing our current Wednesbury and Coventry shops to finish the proper triangle to accommodate value-driven automobile consumers within the area”.

He added: “We’re wanting ahead to additional increasing our footprint of shops throughout the UK as we proceed to drive our {industry} main efficiency.”

The Commerce Centre Group’s dad or mum firm, Bailey Household Investments PLC, counts The Commerce Centre Wales, The Commerce Centre UK, CanCan Automotive Finance and amongst its automotive manufacturers.

The group, which was based by chairman Mark Bailey and 100% owned by the Bailey household, has expanded quickly during the last seven years, rising turnover from £77m.

After increasing out of its Wales house territory in 2016 with the opening of a brand new facility at Wednesbury, the Commerce Centre Group at present operates even websites, in Cardiff, Coventry, South Birmingham, Neath, Rochdale, Rotherham and Wednesbury.

In a 2021 buying and selling interval which delivered robust car margins from a sector battling restricted provides of used automobile inventory, the enterprise boosted its gross sales with the opening of a sprawling automobile grocery store web site at Parkgate, Rotherham.

The transfer accelerated its its used automobile gross sales volumes by 12.1% year-on-year to 35,720 automobiles.

Amongst its different highlights from the buying and selling interval, the automobile grocery store group highlighted the disposal of its part-exchange outlet in Merthyr Tydfil because it made means for the development of the A465 link-road between South Wales and the Midlands.

It additionally secured premises for its seventh retailer, opened this month on Talbot Manner, Small Heath, South Birmingham.

Opened on Friday (Might 27), subsequent to the city’s busy Asda retailer, the brand new 600-car facility offered over 100 automobiles throughout its opening weekend.

Carr stated: “While our information confirmed that many purchasers from the Small Heath space already journey to our current shops at Wednesbury and Coventry, we anticipate to see a big and fast improve in gross sales from South Birmingham postcodes, which was actually the case over the opening weekend.”

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