Three franchised dealer groups have announced their end of year result.
Warwick’s Rybrook Holdings saw turnover increase from £749m to £811m in the year ended 31 December 2019. Profit before tax, however, declined from £1.9m to £1.2m. During the year, they acquired Jaguar and Land Rover Stoke for £1.2m, selling the Jaguar operation in June for £0.3m. Overall, the JLR businesses contributed to an operating loss of £0.7m.
Rybrook made £5.2m of capital investment, including fitting out Huddersfield Jaguar Land Rover on behalf of the new landlord, resulting in an operating profit of £1.7m. It also began the fit out of Volvo Preston and the development of a central storage compound in Wolverhampton.
Eastern Western Motor Group Ltd grew profit before tax by 15% from £7.28m to £8.45m in the year ended 31 December 2019. Turnover was up 10%, from £699m to £770m. The Broxburn, West Lothian retailer’s directors were “very satisfied” with the performance in a Scottish market that declined 5.5%. Like-for-like new car sales grew 11%, used car sales grew 6% and aftersales turnover was up 10%.
Snows Business Holdings Ltd has reported profit before tax of £2m for the year ended 31 December 2019. This matches their 2018 return. Turnover at the Hampshire group increased from £355m to £414m, resulting in a decline in return on sales from 0.6% to 0.5%. During the year, Snows acquired the freehold for its Newbury Peugeot and Kia site with funding from BMW Financial Services. Two further non-statutory directors were also appointed, for HR and Finance and Insurance.