Prime finish supplier group HR Owen battled with powerful buying and selling situations within the 12 months to 30 June 2024 with pre-tax income falling to £2.29m in comparison with £7.6m final time on turnover down 1.8% to £556.6m.
Its retail enterprise contains 18 gross sales and 18 aftersales operations, representing Aston Martin, BAC, Bentley, Bugatti, Czinger, Ferrari, Hennessey, Lamborghini, Lotus, Maserati, Radford, Rimac and Rolls-Royce.
In outcomes filed at Firms Home, it mentioned: “The automotive retail industry in the UK has experienced a dynamic and challenging period over the last 12 to 18 months, shaped by ongoing supply chain disruptions, rising demand for electric vehicles, inflationary pressures, higher interest rates, lower residuals of pre-owned vehicles and changing consumer preferences.”
HR Owen mentioned it’ll proceed to develop its aftersales enterprise to counter any potential decline within the new automobile market and commented that it lately launched Specialist used automobile gross sales operations and Lotus franchises in Cardiff, Hatfield and Manchester.
It mentioned it was specializing in eCommerce, digitising the enterprise, and decreasing prices by way of fashionable know-how. It’s also boosting its property portfolio, shopping for a freehold property in Pangbourne for £700,000 in the course of the interval.
Car gross sales income fell by 2% to £501.8m as a result of decrease new and used gross sales volumes. Aftersales turnover was £2.5m decrease at £54.8m as a result of buying and selling situations.
On the outlook it mentioned it had a robust order e-book for brand spanking new automobiles. Its Rolls-Royce and Lamborghini Manchester operations each received supplier of the 12 months in 2023.
