Insider Media Limited

Turnover has soared by more than £40m at Stratford-upon-Avon-based Listers, Insider can reveal. The motor dealership group – thought to be the largest in the UK – turned over £621.4m for the year ending 31 March 2011. It attributed the rise in part to the growing popularity of its Audi, Volkswagon and Mercedes-Benz divisions.

Listers' nationwide dealerships sell new and used vehicles, car parts and servicing provisions.

Earnings shot up to £621.4m over the year, an increase of more than £40m compared with its 2010 year-end results, which totalled £579.9m.

However, high sales costs resulted in a small profit margin for the year. Sales totalled £527.9m at the financial year-end compared with £487m the previous year.

Profit after tax stood at £6.8m, up from £4.2m in 2010.

Over the 12-month period, total vehicle sales were up 1.4 per cent. New car sales fell 2.2 per cent while used vehicle revenues were up 6.7 per cent. The average vehicle sale value increased by 5.9 per cent over the year.

Listers, which operates 45 franchise dealerships across the country, said the "modest" overall increase in vehicle sales reflected the gradual improvement in trading conditions compared to the preceding year.

It said the group's Audi, Volkswagen and Mercedes-Benz divisions had made "the most significant contributions" towards the hike in profit.

During the financial year, Listers acquired the trade and certain assets of a site in Coventry, and began trading as Listers Skoda Coventry on 1 April 2011.

Despite employing more people in its latest financial year, Listers' wage bill was reduced when compared to its 2010 results.

On 31 March 2011, the company employed 1,491 people, compared with 1,426 the previous year. Payroll costs stood at £53.6m in its latest results, a drop from 2010, in which £55.5m was spent.

Listers revealed its annual results in its annual accounts submitted to Companies House.