Foray swings from loss to profit
13 June 2022
Foray Motor Group has turned a £279k 2020 loss before tax into a £2.2m profit for the year ended December 2021. The Wiltshire-based Ford specialist saw turnover rise almost 26% to £163.8m, which it attributed to new click and collect processes enabling it to trade during Covid closures.
The company made use of the Coronavirus Job Retention Scheme and rates support. A focus on cash management has given it a net asset position of £5.5m.
The directors forecast a strong result for 2022 due to the ongoing shortage of semiconductors which are limiting new vehicle supply.
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