Pentagon announces rise in pre-tax profits

Derbyshire-based auto retailer Pentagon has announced a four percent rise in pre-tax profits to £4.2 million as turnover rose to just over £484 million – a 10 percent increase on the previous year – despite incurring losses of over £600,000 integrating two new businesses into the group during the second half of the year.

The group saw retail and local business sales increase 7.8 percent from 22,178 units in 2014 to 23,917 in 2015, helped by 786 sales from new franchises in Lincoln and Doncaster, new car finance deals and manufacturer discounting throughout 2015. Fleet department volumes also rose by 11 percent in the year to 17,415 units.

Also of note, Pentagon reported a good year for its digital activities, with unique website visits up 13 percent and car and van enquiries via online channels increasing by around 26 percent over the past 12 months.

Commenting on the results, Pentagon Group Chairman Trevor Reeve said: “We set ourselves a big challenge last year when we agreed to add eight new franchises to the group, which included four manufacturers that were brand new to the business”

Reeve added: “This growth means we’ve expanded into new territories with new brands, notably in Lincoln where we now represent seven different franchises. Our first dealership opened in Derby in1991, so in what is our 25th year I’m confident that we’re all geared up for a third record breaking year of success”.

This year Pentagon have already opened a new Mitsubishi site on Outer Circe Road in Lincoln. It have also been awarded the Arbarth franchise for Huddersfield.