Greenhous Group reports strong growth
Midlands-based dealership Greenhous Group has reported that pre-tax profits increased by 50% to more than £26 million last year, with turnover rising by a quarter from £1.2 billion to £1.5 billion.
The group, which has five sites in Shrewsbury, Telford, Bilston, Wolverhampton and Tamworth, saw profits exceed expectations as they went up from just over £17.5 million to £26.3 million.
Growth was driven by the acquisition of more land, enabling it to expand its pre-delivery inspection and refurbishment services,
Executive chairman Derek Passant said:
“Improvements in new vehicle availability certainly helped, but the industry experienced some difficulties with the economic turmoil which continued throughout 2023. Due to the dedication and hard work of our employees, we were able to navigate our way through the difficulties to produce an exceptional result. Although we foresee some challenges ahead, it is our view that the actions we have taken in past years will enable us to continue to grow.”
He said the company plans to build on last year’s positive results by enhancing its commercial operations, with the addition of two additional sites in the south west.
Passant concluded: “We also see some opportunities in the car and van market, as new entrants mainly from China battle it out with the old established marques, particularly as the industry continues to drive down the road of electrification. It is our belief that we are ideally placed to take advantage of the opportunities that arise.”
