Stoneacre earnings took a success in 2024 because the group grappled with a tricky used automotive market with values on the slide. Pre-tax earnings fell 23.5% to £24.4m on turnover up 2.5% to of £1.039bn.
Within the yr to April 2024, the group offered 26,601 new retail models, a rise on the 24,581 offered within the prior yr whereas used automotive gross sales have been 31,395 in comparison with 31,532 final time.
Stoneacre mentioned that new automobile provide had returned to pre-pandemic ranges and gross margins had elevated by 8%.
On the used automotive entrance, gross sales have been static and margins fell by 11.8% within the yr as a result of value falls skilled by all sellers within the ultimate quarter of 2023.
Service revenues rose 5% however margins fell because of larger labour and courtesy automotive prices.
The corporate mentioned its seven-day working shift system was profitable because it was launched a yr in the past and it’s rolling it out the place applicable.
The bodyshop operation elevated turnover by 8.1% whereas internet revenue rose 44.6% because of funding in expertise, effectivity initiatives and new contracts.
It additionally expanded its Commerce Components Specific (TPX) enterprise with new shops in Blackburn, Cleckheaton and York.
Its public sale enterprise offered 31,082 automobiles within the interval in comparison with 29,271 within the prior yr.
Stoneacre has expanded its coaching academy with a further coaching centre in Doncaster and an EV and FGas centre in Thorne.
Stoneacre now operates from 64 areas in England and Wales and has 148 franchise gross sales factors representing 26 carmakers.
