Johnson and Perrot turnover down 20%
The fall in sales pushed the company into a loss-making situation recording pre-tax losses of €2m in 2008 compared with a €4.8m profit in 2007. The company said in a statement the loss incurred by the group comprised an operating loss of just in excess of €1m, together with a provision of €960,000, which the directors considered was necessary to assist in the disposal of existing motor dealership stock during 2009.
The company which has extensive car sales, hire and repair businesses does not plan to pay dividends in the current year. The company paid dividends, agreed in the context of the 2007 results, of €502,785 in 2008, a 5% increase on 2007’s payment of €478,929. Directors remuneration fell to €663,763 from €681,015 a year earlier.
