Mill Garages North East recorded an increase in sales and profit for the year to 31 December 2016, according to the auto retailer’s latest financial statement. Mill Garages have been in business since 1965, trading as Mill Garages North East since 2008. The company has dealerships in Newcastle, Stockton, Harrogate and Sunderland.
The retailer recorded turnover of £114 million – up from £102 million for the previous 12 month period.
The directors noted that pressure on new car sales impacted negatively on its gross margin, which was down slightly at nine percent from 2015’s 9.6 percent figure. However, they did see growth in the aftersales division due to higher margins.
Last years five month refurbishment of the Stockton retail site also incurred additional costs.
In December 2016 the retailer ceased its relationship with Nissan. It is now a solus Volvo retailer and the largest distributor in the UK. This decision was prompted by the Swedish OEM’s continued global growth potential.