Waylands Automotive announced today that profits for 2024 increased 24% to £3.1m.
The group delivered record new and used sales volumes, up 13.4% to 8,665 units alongside a 20.5% growth in aftersales revenue to £23.5m.
Last year saw the completion of a six-year £14.8m investment programme across every retail showroom and workshop facility. The group is also set to expand with Polestar, representing the Chinese brand in Bicester.
John O’Hanlon, CEO at Waylands, said: “We are delighted to report another year of growth against a backdrop of challenging trading conditions.
“The fact that we have continued to perform well is a testament to the strength of our brand partnerships, the hard work of the team, and the continued success of our strategy.”
He added: “We remain on track to achieve our strategic goal of 16,000 unit sales from acquisitive and like-for-like growth.”
Alongside strong performance in both sales volume and aftersales revenue, 2024 also marked the Group’s sixth consecutive year of EBITDA growth to £6.2m, an increase of 20.4%.
In addition to strong financial results, 2024 also saw the Group celebrate the scaling of its Academy offering, with the first cohort completing their Future Leaders Programme, and 20% of these colleagues having already secured their first management roles within the organisation.
