Rybrook turnover up, profit down
23 November 2020
Warwick’s Rybrook Holdings saw turnover increase from £749m to £811m in the year ended 31 December 2019. Profit before tax, however, declined from £1.9m to £1.2m.
During the year, the business acquired Jaguar and Land Rover Stoke for £1.2m, selling the Jaguar operation in June for £0.3m. Overall, the JLR businesses contributed to an operating loss of £0.7m.
Rybrook made £5.2m of capital investment, including the fit out of Huddersfield Jaguar Land Rover on behalf of the new landlord, resulting in an operating profit of £1.7m. It also began the fit out of Volvo Preston and the development of a central storage compound in Wolverhampton.
Covid-19 will have a “significant impact on the business in the near term” but the directors are encouraged by trading since the first lockdown lifted.
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