Beaming smiles from Williams as firm posts record £8.1m profits

Bolton-based Williams Motor Company (Holdings), specialists in BMW, MINI, Jaguar, Land Rover cars and BMW motorcycles has posted record pre-tax profits of £8.1m, up 28% on last year’s £6.3m figure.

Turnover was up 15.4% to £492.1m in the year to December 31 on the 2015 figure of £426.6m.

Sales figures went up across all is marques, apart from the motorcycles.

The company sold 182,593 BMW cars (2015: 167,381); 68,984 MINIs (2015: 63,581); 34,822 Jaguars (2015: 23,954); 74,532 Land Rovers (2015: 66,574) and 8,414 BMW motorcycles (2015: 8,469).

Meanwhile, the group’s overdraft facility with Barclays increased from £3m to £10.2m in the period.

In the company’s strategic report, managing director Nicholas Cook said: “We are delighted with the group’s strong performance during 2016, which has been the single most profitable year in our history.

“The result included improved year-on-year performance in all areas of our business, particularly, parts, body shop and used car sales.

“Retailer in the UK remain positive, despite an expectation that overall new car volumes will decline by 5% as the market reaches its peak and the devaluation of sterling impacts on demand.”

During the period Williams’ employee headcount rose from 710 to 752.

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