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.
Parkers, a family-run firm which began in 1924 selling petrol and repairing cars, now has 14 branches around the East Midlands. It sells car parts and spares across the UK from its online store.
The group employs 251 staff, compared with 239 in 2013.