Three Franchised Dealer Groups Report 2019 Rise In Profit

Franchised dealer groups City West Country, Toomey Motor Group and WR Davies report pre-tax profits rise for 2019.

Exeter’s City West Country saw profit before tax grow from £5.7m to £6.8m in the year ended 31 December 2019, despite turnover marginally declining. Return on sales rose from 1.9% to 2.3%. The Mercedes-Benz and Smart retailer retained nearly 30% of the additional profit earned with over £2.5m added to its reserves.

Essex’s Toomey Motor Group (the trading name of MJT Securities Ltd) performed strongly too, with operating profit up 15.5% to £8.7m. Turnover was also up 5.7% to £193m. The company said the completion of a large export contract was behind the significant rise in profit.

Auto Market Data also understands the group’s Basildon Vauxhall site topped the network’s Q2 2020 league for CSI.

North Wales retailer WR Davies Motors reported a boost in pre-tax profit from £303k to £1.2m, with turnover rising to £126m. Director Neil Sullivan said the 2019 results were helped by investment in additional sites, new builds and refurbishments, and improvements in processes.