Evolution Warranties is lining up additional acquisitions following its buy of Auto Group final yr.
The guarantee supplier reported gross sales income of £2,956,570 for the yr to 31 August 2024 its first full yr in enterprise.
The group turned in losses of £310,300, reflecting the investments made to increase the enterprise with new product gives and the acquisition of The Auto Group.
It mentioned the efficiency got here in opposition to a backdrop of inauspicious buying and selling circumstances for used automotive sellers within the UK. With The Auto Group acquisition, it now says it has a community of 1,600 sellers utilizing its merchandise.
CEO Gerry Loughran mentioned: “We’re delighted with these outcomes underline simply how robust our enterprise is and what an encouraging future we’ve got with extra acquisitions already in play.
“It is a testament to our fantastic team of Evo Warriors and our loyal dealer customers who have supported us since the beginning.”
The monetary interval from sixth March 2023 ending 31 August 2024 has been transformative for Evolution Warranties Restricted.
“Throughout this era, we continued to put money into our individuals, to increase our modern product choices, which embody ‘The One’ a guaranty product designed solely for automotive sellers, and the ‘Dealer Discretion Fund,’ enabling sellers to take management of their claims.
“Our strategy has always been to empower dealers and improve customer satisfaction, and this period was exceptional. We have researched our customers, and they love our products and services. To date we have had thousands of warranty claims and paid £ millions in claims to help get our customers back on the road.”
