CEM Day sees profits dip in 2023 in challenging conditions

CEM Day turned in a robust performance in 2023 in a difficult market with pre-tax profits down 7.6% to £30.3m on turnover up 10.6% to £284.9m.

Group chairman Graham Day said the group, which will celebrate its 100 anniversary in 2026, had performed strongly in the face of challenging economic conditions. The group operates in Wales and England., representing  Ford, Fiat, Peugeot, IVECO and INEOS.

“Despite facing ongoing challenges such as the cost-of-living crisis, conflict in Europe, environmental concerns, and a complex macroeconomic environment, our business has successfully adapted.

“We’ve enhanced our environmental performance through significant investments in energy-saving measures, including large-scale solar PV installations, recycling initiatives, smart energy systems, and low-energy technologies.”

Day said the group continued to grow its fleet business.

“The hard work and dedication of our colleagues, combined with management’s effective long-term strategies, especially in our Day’s Rental and Day’s Fleet companies—which now boast over 18,000 vehicles—have allowed us to deliver robust results.

“In 2023, we proudly continued our national expansion across the UK, opening several new trading locations and making strategic investments,” he said.

Day said he remained mindful of the challenges and opportunities posed by the nations shift towards electrification and the adoption of agency models.”