John Grose Group has reported a profit before tax of £6.3m for the year ended December 2023. This is down from the previous year’s profit of £8.3m. According to the directors, auto retail had benefitted from steady growth and consumer demand despite continued supply chain issues and inflationary pressures on new vehicle prices.

Turnover increased from £187.8m to £199.8m

Dick Lovett reported that turnover fell from £98m to £89m, and a profit before tax of £1.9m in the same period. This was down from £2.9m in the previous year.

“Trading was not without its difficulties with the supply of new cars still unpredictable and increasing interest rates also having an impact on finance rates of new and used vehicles.” Resource had also been a challenge but the business has “invested significantly in training”.