Belfast Telegraph

Car dealers expect 'year of progress' as profits climb

By John Mulgrew

Northern Ireland car dealership SERE has increased its year-on-year pre-tax profits to £688,000.

The company's turnover also leaped from £28.8m to almost £31m for the year ending December 2014.

And pre-tax profits for the company were up from £378,000 in the previous year.

SERE, run by husband and wife Stanley and Rosemary Edgar, employs 93 staff across its three bases in Northern Ireland. That includes dealerships in Belfast and Lisburn and a car body shop in Carrickfergus.

SERE's profits after tax stood at £570,000 for the year, up from £297,000 in the previous year.

The company said in a statement with its latest accounts that the results were "satisfactory" and that it would "continue to seek every opportunity to increase profitable turnover"

"While the incoming year is likely to be challenging, early results are encouraging and directors expect another year of progress," it added.

The latest positive figures for the company could see it growing in the future, according to the boss.

Stanley Edgar bought his first site in Lisburn back in 1993, setting out his business partnership with his wife Rosemary, who is also a director of the group.

A qualified pilot and a marathon runner, as well as being the owner of the highly successful business, Mr Edgar's new and used car business is one of the most recognisable names on the "Motor Mile" of Boucher Road, along with the company's two other sites in Lisburn and Carrickfergus.

In the six years after opening its first forecourt, the company quickly grew to turning over around £40m.

It also became the first Northern Irish business to be recognised by the Sunday Times Fast Track award.

Writing in the director's report for SERE Holdings Limited, Mr Edgar said: "The group's most important resource is its people; their knowledge and experience is crucial to meeting customer requirements.

"Retention of key staff is critical, and the company has invested increasingly in employment and training and development, and has introduced appropriate incentive and career progression arrangements."

Belfast Telegraph