Available Car in £7.3m 2022 loss
03 January 2024
Castle Donington-based used car retailer Available Car has announced a £7.3m loss before tax for the year ended December 2022, after a £2.0m profit in 2021. Revenue increased slightly, from £329m to £335m.
Borrowing costs rose from £964k in 2021 to £1.67m in 2022. Dividends of £582k were paid during the year, matching 2021’s figure.
Directors blamed the ongoing challenges around used car supply, rising prices and difficult economic conditions for the loss.
“As a result, the company has since decided to review its whole operation in order to generate the best long-term outcome for shareholders and stakeholders.”
In August 2023, it was announced that Peter Waddell’s Big Motoring World was to acquire Available Car’s Cannock and Leeds sites, leaving the business with its original 1,200-car head office site at Castle Donington, and an 850-car business in Sutton-in-Ashfield.
Parent company Graham Bell Holdings posted a £7.4m loss before tax, after a £3.1m profit in 2021. Turnover increased from £402m to £405m.
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