Welsh car dealer group Gravells has seen profits almost double in 12 months.
The seven-site Kia, Dacia and Renault dealership group has clocked up pre-tax profits of nearly £5m after a stellar 2023 on a turnover of £130.5m last year, it reported to Companies House.
Gravell’s has Kia dealerships in Kidwelly, Narberth, Bridgend, Abergavenny, Swansea and Hereford and a dual Renault Dacia site in Kidwelly.
Profit for the year was up to £4.6m compared with £2.4m achieved the year before. The group turned over £54.2m from the sale of used cars and £61.7m from the sale of new vehicles.
Director Jonathan Gravell wrote in the report, ‘The company has maintained positive growth during the last 12 months with increased new value added products and services to its new and existing customer base while maintaining a high standard of service.”
It employs over 150 people and has installed 40 ev charging points as demand for electric cars grows across all brands it sells.
The business is a big supporter of local sporting and social clubs in its area.