Allen Ford on acquisition look-out
The South African owned Allen Ford retail group has said it is well placed for more acquisitions after a year in which it saw big growth from buying two smaller retailers.
The business is one of the UK’s biggest privately owned auto retail groups and is part of South African investment vehicle, Supergroup, which in 2017 added the Essex Auto Group and the Bestodeck Limited Group (Slough Motor Company and Swale Motors).
Its accounts for the year ended June 2018 showed a pre-tax profit boost of 18% and full year profits up to £9.5 million from £7.6m. Reporting a 54% rise in revenue from £396m to £610m which the directors said was ‘largely due’ to the takeovers, they added: “(We) are confident that the business is well positioned to take advantage of any expansion opportunities, either through organic growth or by way of acquisition and we look forward to future increases.”