Kwik Fit has reported a significant uptick in sales and profit during its latest financial year, with the company successfully restoring 200 jobs it had previously cut.
The firm, headquartered in Letchworth Garden City, revealed a turnover of £633m for the 12 months leading up to 31 March, 2024, as per the latest accounts filed with Companies House, as reported by .
This figure marks an increase from the £564.2m turnover reported in the previous financial year.
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Pre-tax profits also saw a substantial rise, climbing from £13.5m to £32.6m within the same timeframe.
Employee numbers grew over the year, averaging 4,892, compared to 4,665 the year before, offsetting the prior reduction in headcount from 4,881.
Specialising in vehicle repair services, Kwik Fit operates over 600 centres and maintains more than 200 mobile fitting vehicles throughout the 海角视频.
In a statement endorsed by the board, Kwik Fit expressed confidence in its market position and ongoing strategy, which focuses on customer and employee experience: "The company's trading performance continued to improve significantly."
"The directors consider that this reflects an excellent performance, reflecting the resilience of the company's market position."
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"The directors intend that the company will continue with its existing strategy to focus on the customer experience and employee experience."
Kwik Fit aims to further solidify its market-leading position by evolving with the changing needs of the car park and promoting safe, sustainable mobility.
Regarding its current performance, the company stated: "Trading in the first half of the year ending 31 March, 2025, has so far been satisfactory."
"Although concerns remain around input cost inflation, there are indicators that this may slow in the remainder of the year."
"The directors consider that the company is well placed to succeed."
Kwik Fit was founded by Sir Tom Farmer, who opened the first location in Edinburgh in 1971. The company has been owned by ITOCHU Corporation since 2011, having previously been owned by Ford Motor Company and CVC Capital Partners.