John Grose group 2017 results ahead of budget
09 May 2018
Ford, Kia and PSA retailer John Grose Group saw pre-tax profits of £2.5 million in 2017 on a turnover of £173m, down fractionally on last year but still ahead of budget.
Ian Twinley, chairman of the Suffolk-based group, said fierce competition on wholesale parts pricing by manufacturers and non-OEMs was causing pressure in the aftersales sector and recent depreciation on late, low mileage models makes holding demonstrators and company cars challenging and stock turn more difficult.
On the positive, he said finance continues to be readily available and financial institutions still regard motor cars as safe assets.
In 2017 the company received the Ford Chairman’s Award for a record 19th time.
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