Bolton Car Centre motors back into profit
MOTOR dealership Bolton Car Centre is back in the black after witnessing its sales rise by £2.3m to £53m.
The dealership – which sells new and used Citroen, Hyundai, Suzuki and Proton motor vehicles – had pre-tax profits of £713,226 compared with a loss of £297,855 last time.
The Bolton Car Centre operates from premises in Bury, Blackburn, Wigan and Preston as well as Bolton. It also runs two new and used van businesses in Blackburn and Bury.
Its financial statements for the year ended January 31, 2010, show that it cut its number of management staff from 15 to eight and its administrative staff from 140 to 137. This reduced its bill for wages and salaries from £3.2m to £2.9m.
The report states: “The main risks arising from the company’s financial instruments are interest rate risk and credit risk.
“All customers who wish to trade on credit terms are subject to credit verification proceedures.”
Bolton Car Centre is owned by its director M J Holt. The report also reveals that over the past year, the company sold premises at Mill Hill, in Blackburn, at its market value to £495,000 to M J H Capital, a company registered in the Isle of Man in which director Mr Holt has a participating interest.
