Motorline has revealed that Government furlough support and the sale of properties contributed to a 118% rise on pre-tax profits during a COVID-impacted 2020.
Lookers has said that a positive swing in performance that will see 2020’s H1 loss of £50 million converted into a £50m pre-tax profit in the first half of this year.
Vertu Motors has suggested that its 2021 pre-tax profits could be up to 60% more than forecast just a month ago after continuing its “exceptional” performance in the used car market.
The competency of PwC’s audits of classic and racing car dealer JD Classics may be questioned in the High Court as administrators from Alvarez & Marsal sue the accountancy firm for failing to spot fraud.
Lookers chief executive Mark Raban has told AM that he is positive about the group’s future after overcoming a “perfect storm” of legacy issues and COVID-19 to report positive 2020 annual financial results.
Lookers has said that it can now “look to the future with confidence” after emerging from the most challenging period in its history.
TrustFord chairman and chief executive Stuart Foulds has said he was “relatively pleased” with the group’s COVID-impacted 2020 financial results – despite recording a £5.2m pre-tax loss.
Lookers will report its 2020 annual financial results on the Financial Conduct Authority’s (FCA) June 30 reporting deadline after announcing a "short delay" in publication.
Marshall Motor Group expects to deliver record underlying profit in 2021 after riding the automotive retail sector’s positive tailwinds of customer demand and appreciating used car values.
Vertu Motors PLC has upgraded its pre-tax profit forecast for 2020 to £28 to £30 million – above current market expectations.
Marshall Motor Group is issuing its 4,000 staff a one-off cash "loyalty" bonus and a backdated pay review after outperforming the market as it emerged from a COVID-hit 2020.
The TG Holdcroft car retail group completed its new headquarters and reported a 20.3% increase in pre-tax profits as COVID-19 pandemic caused car sales to falter in 2020.
The Motorpoint used car supermarket PLC aims to almost treble its revenues to £2 billion with a new “medium term” business strategy laid out in its 2020 annual financial results.
Auto Trader suffered a 29% decline in revenues and 38% reduction in operating profit as it acted to mitigate the impact of COVID-19 on its car retail customers, its 2020 annual financial results have revealed.
Strong financial reports from across the car retail sector have reaffirmed that businesses have weathered the COVID-19 crisis without the “Darwinian evolution” predicted 12 months ago.
Lookers has revealed that chairman Phil White will stand for re-election at its AGM as the AM100 PLC’s search for a successor continues.
Lookers will return to “normalised reporting” of its annual financial results after renewing its banking facility and reporting continued strong trading momentum the first four months of 2021.
Pendragon’s leadership team are today preparing for a shareholder revolt as Hedin Group joined other key stakeholders in stating it will vote against “out of tune” bonus payments.
Johnsons Cars has revealed a 14.1% rise in turnover and a 410% rise in profit before tax in a COVID-impacted 2020 annual financial results statement.
Waylands Automotive ensured that the COVID-19 pandemic was no barrier to ongoing growth as it delivered a 4% increase in revenues and 150% rise in pre-tax profits from its network of Volvo dealerships.
