Luscombe profit halves
24 December 2024
Luscombe Motors saw profit before tax halve from £2.0m to £1.0m in the year ended May 2024. Turnover also fell from £71.8m to £63.9m. The overall return on sales was 1.9%, down from 3.0% in 2023, “due to increased fleet sales in MG”.
During the year, Sam Luscombe was appointed MD, Amanda Catterall was appointed FD and Sotiris Neoftou was appointed head of sales. “This has resulted in a further decrease in reliance on chairman Robin Luscombe to be involved in the day-to-day business operations.”