Sutton Park sees surge in turnover while profits take a hit

Sutton Park Motor Company saw revenues last year drive towards the £150m mark but profits took a hit with the cross sector fall in used car values in the second half of the year.

The company delivered overall pre-tax profits down 42.5% to £1.57m on turnover up 25.6% to £146.04m.

Sutton Park has seven dealerships in Staffordshire, Warwickshire and the West Midlands representing Kia, Renault & Dacia.

Last year its Sutton Coldfield Kia dealership took second place in the Kia 2022 Dealer Excellence awards.

“The business continues to show solid growth in the year and was able to repay all long term debt,” it said in accounts filed at Companies House.

“The change in manufacturer’s new car production impacted upon used vehicle values particularly in the last quarter and adjustments have been made to trading to eliminate excess stockholder in the first quarter post year end,” it added.

The total distribution of dividends for the year ended 31 December 2023 was £250,000 compared to £700,000 the prior year. The average number of employees was 147 compared to 137 in 2022.