Sutton Park Motor Firm noticed revenues final yr drive in the direction of the £150m mark however income took successful with the cross sector fall in used automotive values within the second half of the yr.
The corporate delivered total pre-tax income down 42.5% to £1.57m on turnover up 25.6% to £146.04m.
Sutton Park has seven dealerships in Staffordshire, Warwickshire and the West Midlands representing Kia, Renault & Dacia.
Final yr its Sutton Coldfield Kia dealership took second place within the Kia 2022 Vendor Excellence awards.
“The business continues to show solid growth in the year and was able to repay all long term debt,” it mentioned in accounts filed at Firms Home.
“The change in manufacturer’s new car production impacted upon used vehicle values particularly in the last quarter and adjustments have been made to trading to eliminate excess stockholder in the first quarter post year end,” it added.
The entire distribution of dividends for the yr ended 31 December 2023 was £250,000 in comparison with £700,000 the prior yr. The common variety of workers was 147 in comparison with 137 in 2022.
