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Dealers coming back from the brink
publication date: Dec 18, 2010
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author/source: Robin Roberts
The
franchised dealer sector has collectively returned to profit, according to a
new piece of research by BDO, the accountancy and business management company.
The newly published Motor 150 Report analyses the financial results of the biggest 150 groups by turnover and produced a aggregated financial report complete with consolidated accounts. The research highlights the resilience of the sector during 2009; the toughest year it has faced in a generation. The collective turnover of these groups totalled £34.6bn, down 4.2 per cent from 2008's £36.1bn. But, with the sector stripping out costs as the downturn began to bite, the bottom line saw profits of £360m after losses of £198m in 2008. |
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