2014 Company Results

Continued growth in all areas of the business

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Download our Annual Report and Accounts: PDF

Download our Preliminary Results: PDF

Annual Report & Accounts for the year ended 28 February 2014

Robert Forrester interview on latest results
Interview and Slides with Robert Forrester, Chief Executive commenting on the results.
108

Number of Retailers

Continued growth in all areas of the business

  • Revenue up 33.8% to £1.7bn with like‐for‐like revenues up 13.1%
  • Like‐for‐like new retail volumes rose by 19.7% compared to UK retail registrations rising 15.0%: with the Group gaining market share
  • Like‐for‐like used vehicle volumes rose 7.1% with stronger margins: excellent H2 performance
  • Higher margin service revenues rose 6.8% on a like‐for‐like basis the fourth successive year of growth reflecting higher customer retention rates
  • Operating expenses as a percentage of revenues in continuing operations reduced to 10.4% (2013: 11.1%)
  • Adjusted(1) operating profit up 96.7% as core(2) business and acquisitions delivered an enhanced performance
  • Profit before tax rose 259.1% to £15.8m from £4.4m
  • Operating cash inflow up to £47.4m from £13.0m : excellent cash conversion
  • Dividend up 14.3% for the full year, increased to 0.8p (2013: 0.7p)

(1) adjusted for exceptional charges, amortisation of intangible assets and share based payments charge
(2) Core: Dealerships that have traded for two full consecutive financial years.

Snapshot

Revenue

£1.68bn 2014
£1.25bn 2013

Adjusted Profit Before Tax

£16.24m 2014
£5.4m 2013

Basic Earnings Per Share

4.15p 2014
1.77p 2013

Total Units Sold

119,543 2014
94,632 2013

Acquisition and turnaround strategy driving profit growth

Strong balance sheet

Current Trading and Outlook

Results Past and Present

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