Read Motor Group

Established and trusted across the Lincolnshire area, we are a family-run dealership with strong values. Managing Director, Mike Read, owns the Read Motor Group which he established in 2010 after acquiring the Hyundai franchise in Grimsby. After a highly successful first few months, Mike opened a second Hyundai dealership in Lincoln less than a year later to meet high customer demand. Most recently, Mike added Suzuki to the Group, expanding the Group's trademark of exceptional customer service to the Suzuki marque in Grimsby. This is followed by the addition of Read Hyundai Kings Lynn, adding North Norfolk to the family in January 2015. At Read Motor Group, we have always been passionate about genuine motoring knowledge. Mike Read started his own automotive career in the 1980s, gaining experience throughout all aspects of the industry. We invest in our team and their training, and pride ourselves on our fully-qualified Hyundai and Suzuki technicians. We are also committed to offering you the best, most up-to-date and relevant advice.
Company Growth (employees)
Type
Private
HQ
Humberston, GB
Founded
2010
Size (employees)
10 (est)-9%
Read Motor Group was founded in 2010 and is headquartered in Humberston, GB

Read Motor Group Office Locations

Read Motor Group has an office in Humberston
Humberston, GB (HQ)
Altyre Way

Read Motor Group Metrics

Summary Metrics

Founding Date

2010

Read Motor Group Financial Metrics

Read Motor Group's revenue was reported to be £32.9 m in FY, 2015 which is a 74% increase from the previous period.

Revenue (FY, 2015)

£32.9 m

Revenue growth (FY, 2014 - FY, 2015), %

74%

Gross profit (FY, 2015)

£3.7 m

Gross profit margin (FY, 2015), %

11%

Net income (FY, 2015)

£435 k

Cash (31-Dec-2015)

£584.7 k
FY, 2013FY, 2014FY, 2015

Revenue

£16.6 m£18.9 m£32.9 m

Revenue growth, %

14%74%

Cost of goods sold

£14.4 m£16.5 m£29.2 m

Gross profit

£2.2 m£2.5 m£3.7 m

Gross profit Margin, %

14%13%11%

Operating expense total

£1.5 m£1.9 m£3 m

Pre tax profit

£640.4 k£504.3 k£550.8 k

Net Income

£490.9 k£395 k£435 k
FY, 2013FY, 2014FY, 2015

Cash

£581.8 k£747 k£584.7 k

Accounts Receivable

£233.6 k£550.7 k£1.1 m

Current Assets

£3.7 m£4.5 m£7.3 m

PP&E

£1.3 m£2.8 m£3.4 m

Goodwill

£293.1 k£249 k£204.9 k

Total Assets

£5.3 m£7.6 m£10.9 m

Accounts Payable

£2.9 m£3.8 m£6.3 m

Current Liabilities

£3.4 m£4.2 m£7 m

Retained Earnings

£436.9 k£348 k£341 k

Total Equity

£1.1 m£1.5 m£1.9 m

Financial Leverage

4.7 x4.9 x5.8 x
FY, 2013FY, 2014FY, 2015

Cash From Operating Activities

£705.9 k£898.7 k£646.5 k

Cash From Financing Activities

(£264.6 k)(£80.3 k)£15.3 k

Income Taxes Paid

(£149.5 k)(£109.2 k)(£115.8 k)
Y, 2015

Financial Leverage

5.8 x

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Read Motor Group Company Life

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