LSH Auto reduces losses
03 September 2019
LSH Auto UK more than halved its pre-tax loss in 2018 to £4.98 million as the company continues investment in redeveloping its facilities. It will open the UK’s first flagship Mercedes-Benz Autohaus site in Stockport this week with a VIP event on 5 September. Turnover for LSH Auto was static at £446m in 2018.
The 2018 loss was described as a “satisfactory performance”. New and used car sales were slightly down on 2017 but used car profitability was “vastly improved following reduced used car stocking levels”. Managing director Martyn Webb has previously stated a target of reaching profitability by 2020.