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Car dealer Hidsons enjoyed a “year of consolidation” as it introduced Mitsubishi to its franchises and almost said goodbye to Seat.
The family-owned firm, which has sites in Rainham and Northfleet, near Gravesend, increased turnover by 5% to £43.5 million, while operating profit inched up 3.5% to £126,000.
Pre-tax profits were almost identical, according to its accounts filed at Companies House.
The firm introduced the Mitsubishi franchise to replace Seat, although it continued some Seat sales and after-sales throughout the year.
In his company report, director Nigel Hidson said: “Early results with Mitsubishi were encouraging, and despite a slight dip during Q2 this optimism continued through the year.”
Kia remained the dominant brand in its portfolio and it introduced another Korean mark, SsangYong, in the second quarter of the year.
It has already become the latter brand’s second highest-selling dealer in the UK.
However, Mr Hidson said the Northfleet operation’s performance was “disappointing”, with “capacity issues causing problems when demand was strong”.
It has since leased an additional industrial unit for the dealership, “which promised the end to capacity issues and a potential source of new revenue”.
"Overall 2015 showed a year of consolidation and planning for the future when trading conditions continued to be tough and manufacturer volume expectations very ambitious...” - Nigel Hidson
Volume of Vauxhall sales remains an issue, although Citroën “continued to perform adequately”.
Its Great Wall franchise – a Chinese make – saw sales drop “alarmingly”, adding “the small profit contribution from it dried up completely.”
Significantly, the company, which employs more than 100 people, disposed of its loss-making Coxheath branch, which had been “a major drain on profitability for many years”.
Mr Hidson said: “It was good to see its demise. Overall 2015 showed a year of consolidation and planning for the future when trading conditions continued to be tough and manufacturer volume expectations very ambitious.”