Partner Article

Fawdington drives through turbulent times

MOTOR retailer and repair firm Fawdington has recorded a £400,000 climb in pretax profit to £1.7m despite a 12.5% plunge in annual sales.

The Newcastle company said it was well placed to maintain a similar level of profitability throughout 2010 despite difficult trading conditions in the sector.

The firm recorded annual turnover of £47.1m in the year ending 31 December 2009, compared to £53.8m the previous year.

A statement posted on Companies House said: “In a challenging economic environment the company places increasing emphasis on the careful management of used vehicle activity, both in terms of ensuring appropriate stock levels and values attributed to used and traded vehicles.

“The market place continues to be competitive but the business is well placed to benefit from its leading reputation in the region.”

The company, which employs around 80 people, said it expected the economic conditions in the current year to remain in a similar state to those of 2009.

This was posted in Bdaily's Members' News section by Ruth Mitchell .