Arbury Motor Group, Car Giant, Riverside Motor Group and Tom Hartley Jnr have all been included among the Sunday Times PwC Top Track 250 rankings of Britain’s leading mid-market private companies.
The car retail groups qualified for the rankings of top businesses with an annual turnover of between £100m and £750m by meeting criteria which demanded a profit margin of over 2% and sales growth of at least 5% in their latest published annual financial results.
The number of car retailers included in this year’s rankings, The Sunday Times’ 16th, halved from eight in 2019.
London-based independent used car supermarket operator Car Giant emerged as the top ranked car retailer in the listings, placing 28th with a turnover of £475.8m and an operating profit of £53.3m, with Riverside Motor Group 142nd with £168.6 revenues and £3.6m operating profit.
Luxury car retailer Tom Hartley Jnr ranked 187th, with a turnover of £132.5m and £8.7m operating profit, while Arbury was 189th with £132m in revenues and a £3.3m operating profit.
Ben Archer, operations director at Bromsgrove-based Arbury, which was the subject of an AM dealer profile back in 2018, said he was “thrilled” that the business had been featured in the prestigious rankings for the first time.
He said it had added significance in such a challenging year for UK business, adding: “We have been working extremely hard to adapt to the challenges posed by COVID-19, and this recognition is a testament to the dedication of everyone at Arbury.
“It is our 20th year, so we are especially proud of this fantastic achievement – which is our first ranking in the Sunday Times PwC Top Track 250. I would like to congratulate the whole team and look forward to our continued success.”
Arif Ahmad, a private business partner at PwC UK, the title sponsor of the league table, said: “There’s no doubt that 2020 has posed unprecedented challenges. But time and again, we’ve seen business leaders rising to that challenge, adapting their plans and taking the opportunity to innovate.
“This year, it’s more important than ever to recognise and congratulate the companies featured in the Top Track 250.
“They are the backbone of the UK economy and it’s our pleasure to work with them, at every stage of their journeys.”
The Top Track 250 awards will be held as a virtual event on November 17, where each business will be celebrated for its achievements.
Next year’s rankings could have a very different look as the landscape of business is impacted by the COVID-19 coronavirus pandemic.
However, ASE Global chairman Mike Jones indicated in his latest profitability report on the UK’s car retail sector that the average UK car retailer recovered more than half of the losses suffered during a Q2 trading period devastated by the COVID-19 coronavirus lockdown.
“Whilst there is still clearly significant catching up still to do, it shows that even with the two-and-a-half-month lockdown, motor retailers should still post an average profit for 2020,” he said.