º£½ÇÊÓÆµ

Oops.

Our website is temporarily unavailable in your location.

We are working hard to get it back online.

PRIVACY
Retail & Consumer

Profits more than double at car dealership group after job cuts, furlough and online sales switch

Williams Motor Company has 14 sites across the North West

Williams Motor Company has 14 sites across the North West

Job cuts, furlough support and a switch to online sales helped pre-tax profits more than double at a historic North West car dealership group in 2020, newly-filed accounts have revealed.

Williams Motor Company, which is headquartered in Bolton, has reported profits of £8.2m for the 12 months to December 31, 2020, up from £4.8m in 2019.

The documents filed with Companies House also show that its operating profits increased from £4.8m to £8.3m and its EBITDA went from £6.5m to £11.2m as a result of reducing its headcount following a "rationalisation of the workforce", the sale of its vacated Land Rover property, rates relief and furlough support.

The number of staff employed by the company at the year end reduced from 835 to 781.

The company, which was founded by John Henry Williams in 1909, also reported that its turnover fell from £522.8m to £431m during the year.

A statement signed off by the board said: "2020 was dominated by Covid-19 and the measures introduced to control the spread of the virus, including protracted periods during which retail businesses were closing, having a significant impact on our ability to trade

"However, the motor sector quickly turned to digital vehicle sales channels and managed to meet customer demand in aftersales; consequently the effect of lockdowns was to a degree mitigated.