Donnelly's 'satisfied' as profits rise by 10%
Car dealership The Donnelly Group, which has eight showrooms across Northern Ireland, has reported a 10% rise in pre-tax profits to just over £0.9m.
Co Tyrone-based Donnelly Bros Garages (Dungannon) Ltd, which sells new and second-hand cars, also had turnover of £247m in the year to the end of October 2015.
As the parent company, Donnelly Bros Garages (Dungannon) consolidates the results of eight subsidiaries.
The group is one of the largest motor vehicle dealerships in Northern Ireland, and holds 32 franchises.
The company was founded by Peter Donnelly in 1947 as a vehicle repair and taxi business and is now run by his sons, Patrick and Terence.
Turnover was up 1.6% from £243m the year before, while pre-tax profit at the group company was up 10% from £0.86m to £0.95m.
A strategic report filed with the accounts said the directors were "satisfied" with the results.
"The directors have plans in place to ensure the group is strongly placed to retain its market position and continued profitability," the report said.
"Since year end, performance to date has been encouraging," it added.
The report said the risks facing the business ranged from the economic environment to competition from other dealerships, supplier stability, employee retention and franchise support.
It added: "These risks are addressed through not being overly reliant on any one car manufacturer, strong customer service and after-sales support as well as investment in its people and facilities."
In June, Donnelly Vauxhall officially launched its new showroom in Omagh.
The company also has locations in Dungannon, Eglinton, Enniskillen, Ballymena, Mallusk and Belfast.
The business holds significant stocks of vehicles, with the valuation at £31.3m.
Turnover growth in the year to October 31, 2015, reflects steady car sales during the year.
There were 57,000 new vehicles sold in the province in 2015, a drop of just 0.25% on the year before.
But figures from the Society of Motor Manufacturers and Traders (SMMT) show an increase of nearly 1.7% in the year so far.
There were 33,969 new cars sold in Northern Ireland over the year to the end of June, which was up from 33,409 on January to June 2015.
However, SMMT chief Mike Hawes has said it's "too soon" to say if the EU referendum result has had any impact on sales.