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Donnelly Group benefits from furlough scheme to make £1 46m profit in 2020 after previous loss of £2 66m – Car Dealer Magazine
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Donnelly Group 2019 financial results reveal £2.66m pre-tax loss
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Click the thumbs up >Donnelly Group has revealed a £2.66m pre-tax loss in its annual accounts for 2019 but stated that a rationalisation review of the car retail business had now liberated £8m in annual savings.
The Northern Ireland-based car retail group managed to increase its turnover to £311.9m (2018: £311.1m) during the reported period but followed 2018’s £362,361 loss before tax with a further decline in profitability.
The group’s financial statement, published via Companies House on December 22, said that it had moved to close “non-performing franchises” following a review of its operations in the latter half of 2019 identified how to make cost reductions of £8m on an annualised basis.