Turnover accelerates past £800m at car retail giant

Turnover at one of the largest privately owned new and used car retailer groups in the UK broke through the GBP800m barrier during its latest financial year. Newly filed documents for Warwickshire-headquartered Rybrook Holdings show the company’s turnover totalled GBP811.6m for the 12 months to 31 December 2019, up from GBP749.7m. Pre-tax profits at the company, which represents most major specialist and luxury franchises, went from GBP1.9m to GBP1.2m over the same period.

On 28 February 2019 the group acquired the Jaguar Land Rover dealerships in Stoke-on-Trent from the Pendragon Group for GBP1.2m and sold the Jaguar element on 30 June 2019 for GBP300,000. A statement signed off by the board said: “Having initially made a decent start to 2020, the group’s performance and medium-term prospects have been severely affected by the Covid-19 pandemic which has created unprecedented social and economic disruption and uncertainty across the world. “While the Covid-19 situation remains fluid and will undoubtedly have a significant impact on the business in the near term, the directors are encouraged by the trading performance since the first national lockdown was lifted.”

Founded in 1937 as Ryland Motors, the group’s beginnings were in truck sales and coach building. In 1994, the group became a plc under the chairmanship of Peter Whale, grandson of the company’s founder. After nine years as a plc, Whale led a management buyout returning the group to private ownership.

Since then Rybrook has concentrated on the specialist car sector.

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