Latest report reveals Ford dealer cuts pre-tax losses by 50%
Losses at Northern Ireland's biggest dealer of Ford cars has halved.
Lindsay Cars reported pre-tax losses of £536,918 in the 2012 calendar year, down 50% on the previous 12 months.
Turnover was flat at £105m over the same period and the company report said: "The directors consider the company's performance in the year as satisfactory with a loss before tax of £500,000 in a difficult and challenging operating environment due to the particularly weak market conditions."
Administrative costs were said to have decreased by 8.7% due to "continued tight management of all operating costs" and in "continued reductions in the overall wage roll since 2011".
In 2012, Lindsay Cars – which is based in Lisburn and also has premises at Ballymena, Bangor, Coleraine, Craigavon, Lisburn, Mallusk and two in Belfast – had an average headcount of 385 including executive directors, down from 405 a year earlier. Staff costs for 2012 were said to be just over £9m – down just slightly from 2011 – with £8m of that total made up of wages and salaries.
Vehicle stock was said to be worth £24m, down from £28m the previous year.
On October 10, 2012, the entire share capital of Lindsay Cars was transferred to Ford Retail, part of Ford Motor Company, which bought the business in 2008.
The report said inter-brand competition, demand for cars and services in general, and employee recruitment and retention, were the company's biggest risks.
Models made by Ford are the most popular in Northern Ireland. The Fiesta tops the table with 1,643 cars registered and the Focus in second with 1,207 sold.