Porsche Retail Group sees profits surge 41% to £16.3m

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Porsche Retail Group, the manufacturing unit owned supplier group, turned in a robust efficiency in 2021 with pre-tax income up 41.3% to £16.3m on turnover forward 2.9% to £320.1m. Return on gross sales was 5.2% in comparison with 3.8% in 2020.

The group noticed its new retail unit gross sales fall to 2,037 from 2,329 the prior 12 months whereas used automobile gross sales rose to 1,521 from 1,308 final time.

In accounts filed at Corporations Home it stated its provide of recent vehicles had been impacted by the worldwide shortages of semi-conductors.

“Conversely the diminished provide of recent automobiles had a optimistic impression on used vehicles, the place costs and margins remained sturdy for the entire of 2021 as new automobile clients sought to bought used vehicles as a substitute.”

Wanting forward it stated: “Decrease gross sales because of modifications within the financial system will probably be mirrored in a decrease allocation of automobiles from Porsche Automobiles Nice Britain to promote and overheads will probably be reviewed to assist mitigate among the impression from any discount in profitability.

“The enterprise continues to face uncertainty nonetheless the board of PRG continues to be optimistic that the enterprise can meet the challenges confronted now and over the rest of 2022,” stated managing director Adam Flint (pictured).

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