Revenues at luxury car dealer HR Owen rose 25% to £192.4m in the year to the end of December.
Luxury motor retailer HR Owen boasted strong demand for its new cars, such as Ferraris and Bentleys, last year but suffered a fall in sales of used vehicles.
This contributed to a slight fall in pre-tax profits over the period at the company, which operates outlets in London’s Mayfair, Hertfordshire and Surrey.
Despite a 12% fall in new car registrations in the UK luxury market last year,
HR Owen still delivered 15% growth in new car volumes on a like-for-like basis.
Its chairman Jon Walden said: “Our success in new cars, partly from converting customers from used to new cars, did however mean that used car trading fared less well, with a fall in the number of cars sold.”
HR Owen’s pre-tax profits fell by 8% to £1.83 million last year.
The company’s revenues rose 25% to £192.4 million, boosted by the group’s acquisition of Broughtons of Cheltenham for £1.5 million in August.
The group said its Bentley sales volumes had also been lifted by the contribution from Broughtons, and its selling of Aston Martins for the first time.
