Northern Ireland’s leading independent motor retailer Donnelly Group has reported a pre-tax operating profit of £1,457,796 according to the latest accounts filed at Companies House for the year ending December 31 2020.
Turnover for the period was £252,364,123 (2019: £311,861,484) which was impacted by forced closures throughout the pandemic.
The latest accounts follow a period of strategic review and rationalisation for the motor retailer and represent a £4,116,349 improvement over 2019 results.
Dave Sheeran, managing director at Donnelly Group, said: “2020 was an extremely challenging year for the entire motor retail industry. The pandemic coincided with a wider strategic review of the business, the out-workings of which are beginning to materialise in these results.
“The business is in a positive position following £7.2 million of annualised structural cost savings and I expect stronger results as the Group’s new strategy is fully implemented.
“Challenges remain throughout 2021, principally due to the ongoing global pandemic, but the Group’s trading has been very positive year to date and in line with expected improvements.”
The Donnelly Group partners with 16 leading vehicle manufacturers including Honda, Jaguar, Land Rover, Renault, Vauxhall and Volkswagen selling both new and used cars, vans and pickups from its nine locations across Northern Ireland.
A message from the Editor:
Thank you for reading this story on our website. While I have your attention, I also have an important request to make of you.
In order for us to continue to provide high quality and trusted local news on this free-to-read site, I am asking you to also please purchase a copy of our newspaper whenever you are able to do so.
Our journalists are highly trained and our content is independently regulated by IPSO to some of the most rigorous standards in the world. But being your eyes and ears comes at a price. So we need your support more than ever to buy our newspapers during this crisis.
With the coronavirus lockdown having a major impact on many of our local valued advertisers - and consequently the advertising that we receive - we are more reliant than ever on you helping us to provide you with news and information by buying a copy of our newspaper when you can safely.
You can also enjoy unlimited access to the best news from across Northern Ireland and the UK by subscribing to newsletter.co.uk
With a digital subscription, you can read more than five articles, see fewer ads, enjoy faster load times, and get access to exclusive newsletters and content. Visit https://www.newsletter.co.uk/subscriptions now to sign up.