Household-run Dick Lovett has posted a pre-tax revenue of £47.7 million and turnover of practically £770m in what was a report yr for the enterprise.

The South West-based group’s newest accounts for the yr ended December 31, 2022, submitted to Corporations Home, present pre-tax income have risen significantly from the £24.4m efficiency in 2021.

Turnover elevated by 17% from £659m final yr and working revenue elevated from £25m to £48m over the identical interval.

This bounce in income could be partially attributed to the sale of Dick Lovett’s BMW and Mini website in Bathtub, following that dealership’s relocation to a brand new purpose-built Melksham website.

The enterprise stated that whereas all of the premium manufacturers it represents carried out nicely to assist ship the outcomes, BMW, Mini, Porsche and Ferrari had a very “excellent yr, with report income”.

Dick Lovett represents BMW, Mini, Porsche, Aston Martin, Ferrari, Jaguar, Land Rover and BMW Motorrad at places in Bristol, Hungerford, Melksham, Swindon, Cardiff and Tewkesbury.

It additionally runs its personal supercar and status specialist vehicles enterprise.

The administrators on the enterprise made a joint assertion as a part of the outcomes and stated that whereas the group delivered a report efficiency, the yr was not with out its challenges.

This included constrained provide of recent vehicles, unpredictable and growing rates of interest, in addition to useful resource and a decreasing pool of expertise within the labour market.

Dick Lovett is already planning a big funding in a new flagship Porsche dealership in Newport and might be redesigning its BMW Hungerford location this yr.

A brand new Bristol service centre can also be deliberate this yr to permit the longer term rebuild of Porsche Bristol and the later refrubishment of BMW Bristol.

The group’s additionally expects that Porsche Swindon and Porsche Tewkesbury will must be prolonged and expanded to satisfy future demand.

The corporate stated: “The corporate will proceed to guage different alternatives that the administrators really feel will add worth to the group”.