Turnover and profit stable at Ford retailer
08 July 2018
Ford car and commercial retailer T.C. Harrison said that turnover and profit stayed broadly in line with 2016 last year despite the post-Brexit climate.
The Derbyshire based business said turnover in its Midlands division was £90.1 million last year against £89.9m in 2016 while for the South the figures were £91.8m and £94.0m respectively. Pre-tax profit came out at £2.9 million against £3.0 the year before.
In its year end accounts, the directors noted: “The Brexit vote has introduced a degree of uncertainty into the minds of some of our customers and has resulted in the deferment of major spending decisions for some. The squeeze on living standards resulting from the inflationary effect of the fall in sterling following the vote has affected our customers. Exchange rate-driven inflation has also pushed up the costs to our business.”
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