Turnover has grown to more than £200m at a Yorkshire motor dealership group despite challenges in the automotive industry.
Riverside Motor Group, which has its head office in Doncaster, operates Volvo, Seat, Cupra, Honda and Mitsubishi dealerships in Doncaster, Hull, Wakefield, Barnsley and Leeds.
Recently filed accounts for Riverside Motor Holdings show turnover of £209.9m for the year ending 31 December 2022, up from £190.8m in 2021.
Pre-tax profit was £5.62m, compared to £7.01m the previous year.
In December 2022, the group acquired a Volvo franchise in Leeds, which is trading through a new group company – Riverside Motors Leeds.
In their report accompanying the results, the directors highlighted a number of challenges in the automotive market, including a shortage of experienced staff (particularly technicians), ongoing new car supply constraints and high energy costs.
Riverside Motor Groups managing director Mark Denton said: "As for many motor trade businesses, the environment in which we operate has its challenges, which have been, and continue to be, increased energy costs, higher wages and ongoing new car supply issues with some manufacturers and also a shortage of experienced technicians.
"We continue to be mindful of pressures faced by our consumers which has been affecting spending however we're more than confident in our proposition to our consumers going forward.
"The group is in a very healthy financial and operational position, and we are ambitious to further scale the group and are actively looking to do this in the future. Our manufacturer relationships are key to this, and I am proud that Riverside Motor Group have excellent relationships with all of our chosen manufacturer partners which is down to operational delivery and a strong, mutual respect."
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