Profits almost double at Guest truck and van dealership
The historic company behind truck and van dealership brands Guest and Sherwood has boosted revenue and pre-tax profit despite a 'poor performance' from its car division, which it sold during the course of the year.
Ian Guest Holdings can trace its roots back to 1902, when Frank Guest started a business repairing bicycles in West Bromwich. It is now the largest Iveco commercial vehicle dealer in the UK, representing it across 13 locations, in addition to this it is also one of the largest Fiat Professional dealers.
Newly filed accounts revealed the group turned over £111.7m in the year to 31 December 2016, which includes almost £7m from discontinued operations. In 2015, revenues were £101.8m.
Pre-tax profit for the year was £2m compared to £1.1m in the previous period.
A statement accompanying the results hailed the 'healthy performance' of the group's truck division and said the sale of new vehicles was 'particularly strong' during the period.
Robert Spittle, managing director of operations, said: "The directors are pleased with the results for the year which has reinforced our recent growth strategy in the commercial vehicle sector.”
"Our loss-making car business was disposed of to allow continued focus on the core commercial vehicle dealership activities, including the opening of a new dealership in Thetford along with a number of other investments during the year."
The company added that it has continued to invest in apprenticeships and the recruitment of skilled labour "remained an issue in certain locations".
Ian Guest Holdings is headquartered in Kenrick Way, West Bromwich.
Guest Truck and Van has sites in Birmingham, West Bromwich, Wolverhampton, Coventry, Leicester, Boston, Cambridge, Thetford and Peterborough. Sherwood Truck and Van has branches in Nottingham, Sheffield, South Normanton and Stoke, also offering complimentary services through Vehicle Lining Services and Guest Tyre and Auto Centre.
