FordRetail Group

2009 Ford Retail accounts overview

Ford Retail produced exceptional results in 2009 from its trading sites throughout the United Kingdom. While the initial economic outlook for the year seemed to be very gloomy, the positive impact of the temporary VAT reduction, the vehicle scrappage programme and very buoyant used vehicle prices combined to deliver a profit after tax of £8.2m on a statutory basis (£12.2m before tax).

During the course of the year, the Board determined to rationalise a number of under-performing businesses, with the termination of the three London Mazda vehicle sales operations, the closure of the Polar Ford Macclesfield dealership and the disposal to Stoneacre Motor Group of the Polar Ford dealerships in York, Scarborough and Thirsk. Polar Ford St Helens relocated to brand new premises and the @first Alperton facility was extended to support the expansion of the business.

In January, Ford Retail launched its Moments of Truth customer satisfaction programme. This has provided focused training for every one of Ford Retail's employees, in many instances, allowing them to gain an NVQ Level 2 qualification in Customer Satisfaction.

2008 Ford Retail accounts overview

After a positive start to the year, 2008 proved to be very challenging, with the new vehicle market in particular, feeling the effects of economic slow-down during the second half of the year. Turnover increased year-on-year due to a full year’s contribution from the Huddersfield business and the rapid growth of the @first parts business. The Company remained profitable, recording a profit before tax of £1.6m (£0.5m after tax).

The year saw a considerable level of property activity, with the flagship East London dealership relocated to fully refurbished and extended premises in May, allowing the closure of the neighbouring Ilford dealership in October. May also saw the opening of a dedicated parts distribution centre for the Yorkshire region. A new dealership was opened in Eltham, SE London in September, trading under the Dagenham Motors name and the Heartlands Ford Perry Barr and Polar Ford Barnsley dealerships were relocated in November and December respectively.

2007 Ford Retail accounts overview

Following the consolidation of Ford Retail UK Limited with Polar Motor Company Limited in December 2006, the company was renamed Ford Retail Limited in January 2007. The consolidation resulted in a significant increase in turnover year-on-year from £604m to £850m. Operating profit moved forward from £8.7m to £9.4m. After consideration of profits from disposal of freehold property, profit after tax of £11.9m was declared, up from £5.3m in 2006.

In May, the company relocated its Dagenham Motors Highbury dealership to refurbished premises in Stamford Hill. June saw the opening of an East London parts distribution centre in Barking. This was followed in July with the formation of a dedicated parts division, @first Parts Solutions. In addition to taking control of all Ford Retail’s parts wholesaling operations, this undertakes daily deliveries to all Ford Retail locations and also participates in Ford Motor Company’s During the Day Delivery (3D) programme, providing same day parts deliveries to other Ford dealers within a prescribed territory.

In December, Ford Retail completed the acquisition of a dealership in Huddersfield from Hartwell plc. The business was rebranded as Polar Ford and its management adsorbed within the existing Yorkshire regional management structure.