Land Rover dealer upbeat after profits rise

WILLIAMS Motor Company, which owns a major Land Rover dealership, has posted a 72% hike in annual profits to £623,000.

The family-owned group based in Bolton said it has benefited from a surge in demand for Land Rover vehicles after bad weather in the early part of 2010.

It said its prospects for the 2011 financial year had been buoyed by the recently-launched Evoque model – which is pre-sold up until March 2012.

Sales at Williams, which is based near Princess Parkway, Hulme, Manchester, has rose 44.5% to £25.37m in 2010.

In a statement accompanying the accounts, the directors said:”Whilst market conditions remained difficult in 2010, the company achieved a substantial increase in profitability, thus building on the turnaround achieved last year.

“Whilst the company continues to benefit from the cost reductions made in late 2008 and early 2009, the market for Land Rover strengthened considerably due to the adverse weather conditions early in the year and the successful launch of the 2010 model year product.”

The company said new car sales had risen nearly 50% as a result of these factors.

It added: “Looking to 2011, the company should benefit from the early launch of the new Evoque, this vehicle being already fully sold out to March 2012.”

In January this year Williams’ parent company Williams Motor Company (Holdings),  agreed a £20m refinancing with Barclays Corporate.