Share
An organisation of Kia, Dacia and Renault dealers in seven locations made a pre-tax profit of almost £5 million after an excellent 2023.
Gravell’s, the South Wales-based brokerage group, had a turnover of £130. 5 million last year, its most recent accounts reveal.
Profit for the year of £4. 6 million, up from £2. 4 million last year.
Gravell’s has Kia dealerships in Kidwelly, Narberth, Bridgend, Abergavenny, Swansea and Hereford, as well as a twin Renault Dacia in Kidwelly.
The organisation generated £54. 2 million from the sale of used vehicles and £61. 7 million from the sale of new vehicles.
Director Jonathan Gravell, pictured above, wrote in the report: “The company has maintained positive expansion over the past 12 months with the creation of new value-added products and for its new and existing visitor base, while maintaining a superior level of service. .
“The company continues to invest in its underlying systems and is constantly looking for growth opportunities.
“The functionality of the company is heavily influenced by the fortunes of the franchises it represents. “
Looking ahead, however, Gravell is under pressure because the economy poses a threat to his business.
He added: “The functionality of the UK economy and high interest rates continue to put pressure on consumers and businesses looking to upgrade their vehicle fleets. Economic forecasts point to an advanced scenario for 2024. “
The annual report, which has just been presented at Companies House, also indicates that the company invested in 40 new EV charging issues across the organization last year.
The organization hired 151 more people by the end of 2023.
James is the founder and editor-in-chief of Car Dealer Magazine and CEO of parent company Baize Group. James has been an automotive journalist for over 20 years and writes about automobiles and the automotive industry.
The latest. . .
Verify. . .
Account Links. . .
Car Dealer Magazine