The Directors publish results for 2018 marking turnover increase by 15%!
WILSONS Auctions has recorded significant growth in turnover and profit having published its results for 2018, further consolidating its position as the largest independent auction house in the UK and Ireland.
The auction company’s turnover increased by 15% to £28.1m, with sales reaching in excess of £320m, while its operating profit increased by 6% to £2.9m. Wilsons Auctions now holds over 2,000 auctions per year auctioning everything from cars and vans, plant and machinery and property to general goods, as well as the more luxurious items including planes, yachts, gold bars, supercars, designer goods, prestigious watches and in 2019 expanded its offering to cryptocurrency.
Wilsons Auctions’ Group Operations Director, Peter Johnston commented, “In recent years Wilsons Auctions has seen significant growth as a result of successfully tendering for new business in the public and private sectors across the UK, Ireland and in recent months our Asset Recovery Department has secured work with international clients.
“Wilsons Auctions has taken time to strategically invest across its business as part of its growth strategy, with the expansion of departments, creation of jobs as well as the acquisition of new branches which is reflected in this healthy financial growth,” he concluded.
The business has spent £4.9m on improvements to its existing facilities, acquiring new sites and businesses, including its Newcastle branch which was given a major refurbishment resulting in a state-of-the-art auction facility.
Acquiring the Newport branch in 2017, it has given the company access to the busy South Wales and West of England markets, while bringing its existing customer base and market expertise to new sites, allowing Wilsons Auctions to take a strong place in the local market.
In March 2018 the business operated from nine modern auction centres and nine storage compounds located in all parts of England, Scotland, Wales and Ireland. It also has a significant online offering which provides both vendors and buyers a wider opportunity to reach each other.
The business has continued to be successful in acquiring new contracts, notably with government agencies including local councils, police forces and Border Force. It has strengthened its fleet sales with major vendors including STB Bank, Lookers, Motability, Volkswagen Group, Eastern Western Group, Arnold Clark and many others benefiting from the expanding network of auction facilities.
Wilsons Auctions continues to expand and innovate, in 2019 Wilsons Auctions launched its first Bitcoin auction and other virtual currencies for various European government agencies.
A family owned business, Wilsons Auctions was formed in 1936 in Northern Ireland and has grown to become the largest independent auction company in the British Isles with sites in England, Northern Ireland, Republic of Ireland, Scotland and Wales.
For further information follow us on Facebook @wilsonsauctionsltd or go to @wilsonsauctions on Twitter and Instagram.