Wednesday, December 24, 2008
Year of growth for Hatfields Group despite cutting dealerships
Hatfields Group has achieved revenue growth despite having trimmed down its dealership portfolio.
While many other similarly-sized dealer groups have remained relatively flat or declined, the business has seen annual turnover to November 2008 rise to £117.4 million from £109.7 million 12 months ago.
The progress, which moved Hatfields up nine places to 83rd in the November AM100, has been made despite recent downsizing.
It closed two Hyundai dealerships last year, and in August relocated one Chrysler outlet from a solus site to alongside its Sheffield Jaguar business.
Last month, its management decided to close a second Chrysler dealership in Doncaster.
Gareth Williams, managing director, said: “No other Hatfields businesses are under review at this time. The group remains financially sound and we are actively looking at new opportunities as they arise.”
In its last financial year Hatfields made £693,000 operating profit.
Williams said the growth in turnover has been fuelled by all its franchises.
The Jaguar XF has overtaken the X-Type to become the biggest selling Jaguar model for the group, and has boosted revenue at its six Jaguar sites.
“Additionally, sales of new and used Hyundai vehicles have improved, contributing to the growth in turnover,” Williams said.
“Chrysler has been consistent for us despite the reduced number of dealerships in the group. This level of activity is largely a result of the impressive performance at Hatfields Bury, where we have sold 630 new and used Chrysler, Jeep and Dodge cars in the last year, compared to 368 units in the preceding 12 months.”
Hatfields Doncaster closed because “the solus status of the business was not viable in the short term”, he said.
The move resulted in six staff being redeployed within the group and nine being made redundant, six of whom have since found alternative employment.
Hatfields now has six Jaguar outlets, two Hyundai and two Chrysler.
It also has authorised repair franchises for Mercedes-Benz, Hyundai, Land Rover and Mitsubishi.
DATED: 24.12.08
FEED: AM
