Home » General News » HARROGATE dealer Appleyard continued its efficiency drive last year with profits 8.7 per cent up despite poor retail sales and shaky used car prices.

HARROGATE dealer Appleyard continued its efficiency drive last year with profits 8.7 per cent up despite poor retail sales and shaky used car prices.

by chris bennett
HARROGATE dealer Appleyard continued its efficiency drive last year with profits 8.

7 per cent up despite poor retail sales and shaky used car prices.The firm has also struck a deal to cover the whole of Glasgow for Audi.Turnover at Appleyard grew 23.9 per cent to œ694.7m producing profits at the pre-tax level 8.7 per cent higher at œ8.8m.
In a statement to the City, chairman and chief executive Mike Williamson said he was happy with the results for the year but trading conditions remained difficult. “Demand for new and used executive cars was firm but the weakness in the new volume retail sales remains,” he said. “The aftersales performance was ahead of the same period in 1995.”
Business development director John Atkin said the cost base of the firm continued to come under scrutiny as reorganisation and the introduction of a new IT system took effect.
Atkin said the headcount had been reduced, a regional area removed and management levels cut.
Star performers were the truck, contract hire and fleet business, he said. The car sales business was mixed with a strong performance from aftersales, which saw sales rise 20.7 per cent to œ85.3m producing gross profits of œ29.7m up 12 per cent. Used car sales rose by a quarter to œ278.7m with gross profits up 20 per cent to œ18.2m. New car sales grew 17.9 per cent to œ255.2m with gross profits 12.9 per cent up at œ21.9m.
Retail buyers still avoided the market. But manufacturers continued to push product affecting used car residuals, he said.
Atkin said some of the least satisfactory performances had been turned in by the Japanese franchises. He said unlike other groups these would be retained in the group and worked on.
The Japanese franchises were strong in the 1980s but currently had a Yen difficulty.
“They are going through a difficult patch but they will come back,” he said.
Atkins also revealed that a joint buying venture with Caffyns and Perrys was already working on paint and the three were looking to do a joint buying deal on oil.
Harrogate dealer group climbs despite poor retail salesappleyard profits up

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