Group discontinues selling fuel, sees annual pre-tax profit soar to £1.4m
Three years ago group pre-tax profits for Parkers Motor Services (Syston) Ltd were around £0.28m on turnover of £22.8m. This month the group announced profits for 2014 of £1.4m. Turnover has risen, but only to £26.3m.
The improvement is even more dramatic than those numbers suggest. During the year Parkers stopped selling fuel, which had contributed just £151,000 to operating profits on a turnover of £6.7m. Stripping out the discontinued activities gives operating profit of £1.16m on turnover of £19.6m.