23 February 2020

Stoneacre Motor Group has reported pre-tax profit of £17 million for the year ended 30 April 2019, compared to £13.6m in 2018. Turnover grew significantly, from £786m to £982m. This included a £75m contribution (and £442k profit) from Mill Garages North East, which Stoneacre acquired in September 2018.

New car sales grew 9.8%, used car volumes were up 14.5% and fleet/commercial was up 24%. Service revenues increased 15.5% and department profitability rose 9.7%; Stoneacre has 37,600 live service plans, benefitting the performance of the service department.

The Stoneacre Digital online footprint is described as an increasingly important driver of customers to retail outlets. High-quality web sessions were up 23% and social media contact grew 675%.

Acquisitions during the year mean the Group now has 100 franchises at 52 locations and represents 24 OEMs. The directors predict “further consolidation with the franchised dealer network as manufacturers choose to work with those partners who best represent the brand”. Stoneacre is well positioned to benefit from this due to “excellent relationships” with its partner OEMs.

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