Shelbourne Motors has today, Tuesday 3rdSeptember 2019, announced a pre-tax profit of £1.2m in 2018 – a 28% increase on the previous year.
The family-owned vehicle retailer said the rise in profits came from a strong sales performance in new and used cars, as well as after sales services.
The increase in pre-tax profits coincides with Shelbourne Motors’ £5m investment in anew multi-franchise complex in Newry.
The 50,000 sq ft developmentwill create 60 new jobs when it officially opens in September 2019.
It will include new Renault and Kia car showrooms, used car supermarket,new car handover bays, lounge-style waiting area and a drive-thru service centre with state-of-the-art service workshop facility.
The Kia partnership will see Shelbourne Motors expand its franchise portfolio to five global manufacturers and be the only dedicated dealership supplying new and used Kia vehicles in the Newry and Mourne area.
Shelbourne Motors employs over 130 staff at its Portadown headquarters, where it operates Toyota, Renault, Nissan and Dacia franchises, as well as Used Car Supermarket, Rental Division, Accident Repair Centre and Valet Centre.
Caroline Willis, Financial Director of Shelbourne Motors, said; “Shelbourne Motors is delighted with the company’s financial performancein 2018.
“We are operating in a challenging and competitive environment, and to record a 28% increase in annual profits reflects the strength and growth of our brand.
“Our 2018 performance has strengthened our position as one of Northern Ireland’s leading vehicle retailers, built upon an ethos of delivering exceptional choice and service to our loyal and ever-expanding customer base.
“We are determined to build on this success with the opening of our new £5m complex in Newry.The Newry expansion is our largest ever single investment and will create 60 new jobs for the Newry area.
“The state-of-the-art facility has been meticulously designed to provide an unequalled sales and after-care experienceto local customers with a host of technologically-advanced features in a vibrant, modern and spacious environment.”