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)
13 (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
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Read Motor Group Financials and Metrics

Summary Metrics

Founding Date

2010

Read Motor Group Financials

Read Motor Group's revenue was reported to be £36.3 m in FY, 2016 which is a 14% increase from the previous period.
GBP

Revenue (FY, 2016)

36.3 m

Gross profit (FY, 2016)

3.9 m

Gross profit margin (FY, 2016), %

11%

Net income (FY, 2016)

502 k

EBITDA (FY, 2016)

1 m

EBIT (FY, 2016)

785.8 k

Cash (31-Dec-2016)

538.4 k
GBPFY, 2011FY, 2012FY, 2013FY, 2014FY, 2015FY, 2016

Revenue

9.3 m14.9 m16.6 m18.9 m31.9 m36.3 m

Revenue growth, %

14%74%

Cost of goods sold

7.9 m12.9 m14.4 m16.5 m28.2 m32.4 m

Gross profit

1.3 m2 m2.2 m2.5 m3.7 m3.9 m
GBPFY, 2010FY, 2011FY, 2012FY, 2013FY, 2014FY, 2015FY, 2016

Cash

254.5 k427.5 k581.8 k747 k584.7 k538.4 k

Accounts Receivable

142.5 k308.1 k233.6 k550.7 k1.1 m1.1 m

Inventories

1.4 m1.6 m2.7 m3 m5.4 m4.9 m

Current Assets

1.9 m2.5 m3.7 m4.5 m7.3 m6.7 m
    GBPFY, 2011FY, 2012FY, 2013FY, 2014FY, 2015FY, 2016

    Net Income

    277 k328.9 k490.9 k395 k435 k502 k

    Cash From Operating Activities

    689.6 k514.9 k705.9 k898.7 k646.5 k703 k

    Dividends Paid

    57 k55 k54 k47 k94 k147 k

    Cash From Financing Activities

    633.7 k(106.5 k)(264.6 k)(80.3 k)15.3 k(261.5 k)
      GBPY, 2016

      Revenue/Employee

      3.3 m

      Financial Leverage

      4.6 x
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      Read Motor Group Company Life and Culture

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