Eden Automotive Investments showed a marked improvement in performance in 2024 as it strove to return to profitability.
The company made losses of -£154,449 in the year to December 2024 compared to losses of -£6.7m the year before on turnover down -9.2% to £296.9m.
In accounts filed at Companies House it said the business was trading above budget in the first half of 2025 and was ‘materially ahead’ of the same period in 2024.
It cut costs towards the end of 2023 with the closure of three loss-making businesses. It also cut its finance costs by reducing vehicles in stock. Staff count has fallen to 597 in 2024 compared to 663 the prior year.
It said whilst consumer demand for used cars has continued to be strong, sourcing stock and strong wholesale prices hit volume and profitability.
As a result, it expanded the range of vehicle sources and improved its in-house systems.
Aftersales departments continue to grow, with turnover at the same level as 2023 despite operating fewer businesses.
“The business has traded above budget for the first half of 2025 and materially ahead of performance for the same period in 2024.
“Operational performance and cost control remain management’s top priorities, particularly in light of the substantial increase in National Insurance from April 2025 and other unavoidable cost increases,” it said.
