Why UK petrol and diesel prices are still sky high despite recent fall November 28, 2024 The price of petrol and diesel in the UK fell between June and October 2024 but the margin retailers are making from each visit to the pump has surged. According to new figures from the Competition and Markets Authority (CMA) fuel prices decreased in the period because, in part, of the changing crude oil prices [...]
Cyber attack dents profit at Arnold Clark as sales near £5bn November 19, 2024 Sales at car dealership giant Arnold Clark edged closer to the £5bn mark but the aftermath of a cyber attack and rising costs contributing to a significant cut to its profit. The Glasgow-headquartered group has reported a revenue of £4.96bn for 2023, newly-filed accounts with Companies House have revealed. The latest total comes after Arnold [...]
Kwik Fit restores hundreds of jobs as sales and profit accelerate November 19, 2024 Sales and profit at Kwik Fit accelerated during its latest financial year as the company created restored the 200 jobs it had previous shed. The Letchworth Garden City-headquartered business has posted a turnover of £633m for the 12 months to 31 March, 2024, according to newly-filed accounts with Companies House. The latest total comes after [...]
Jaguar Land Rover: Profit accelerates but sales stall November 8, 2024 Jaguar Land Rover has revealed its pre-tax profit accelerated by 25 per cent during the first half of its financial year despite its revenue flatlining. The automotive giant has reported a profit of £1.1bn for the first six months of its year to the end of September 2024. However, its revenue remained at £13.7bn. For [...]
Lookers in the red after £504m take-private deal October 28, 2024 Car dealership giant Lookers slumped into the red in the year it was taken private in a deal worth more than £500m. The Cheshire-headquartered business has reported a pre-tax loss of £5m for 2023, having posted a pre-tax profit of £73.9m in 2022. The loss comes as newly-filed accounts with Companies House show Lookers’ revenue [...]
AA: More customers helps profit surge at breakdown giant October 16, 2024 A growing customer base has helped boost profit at the AA after a US investor took a £450m stake in the motoring group. The breakdown giant has posted a pre-tax profit of £39m for the six months to the end of July 2024, up 70 per cent compared to the same period in 2023. The [...]
Vertu Motors: Profit at car dealership giant falls as UK sales stall October 16, 2024 Profit at car dealership Vertu Motors reversed during the first half of its financial year as UK sales of new cars stalled. In interim results filed with the London Stock Exchange, Gateshead-headquartered Vertu Motors reported a pre-tax profit of £22m for the six months to 31 August, 2024, down from the £30.1m it achieved in the [...]
Citroen sales accelerate as profit more than doubles October 15, 2024 Sales at the UK arm of Citroen accelerated by almost £200m in 2023 as its profit more than doubled, it has been revealed. The Coventry-headquartered car maker has reported a revenue of £1.2bn for its latest financial year, up from the £1.01bn it achieved in 2022. Newly-filed accounts with Companies House also show its pre-tax [...]
Motorway cuts its loss as sales rise at ITV’s Six Nations sponsor October 14, 2024 Online-only used car marketplace Motorway cut its pre-tax loss in 2023 as the Six Nations TV coverage sponsor handled more than £2.2bn in sales transactions in the year. The London-based business, which has a network of more than 7,000 car dealers, has reported a pre-tax loss of £31.7m for its latest financial year, down from [...]
Motorpoint: Used car supermarket returns to profitability after ‘most difficult year’ in its history October 8, 2024 It reported retail volume growth of 17 per cent in the first half with "strong momentum" going into the next six months.