Profits up for Spader dealers

SIOUX FALLS, S.D. – Net profits were up 21.7 percent for the average dealer tracked by Spader Cos. during the seven months ended July 31 – compared to the same period of 2004 – the company reported in a recent statement.

Spader Cos. said its average marine dealer earned a net profit of $451,588 or 6.6 percent of sales during the first seven months of the year, compared to $371,149 or 6.1 percent of sales during the same period of 2004.

The training and consulting firm tracks North American boat dealers, both large and small, to compile an average profile, then compares year-over-year trends in a number of different categories.

The unit gross margin percentage was up 1 point from 17.6 percent in 2004 to 18.6 percent this year, while total company gross margin percentages were up 0.3 points at 26.5 percent.

Spending was up in terms of dollars, but down 1.6 points as a percentage of gross margin.

Total dealership sales were up 12 percent from $6,855,460 to $6,120,432 for the average dealer during the seven months ended July 31 – compared to the same period of 2004, reported Spader.

While new boat inventories were up 19.8 percent to $2,930,242, compared to the previous year, new boat sales were also up, according to Spader. They increased 15.2 percent to $4,623,071.

The average dealer’s used boat inventories were down 4.2 percent to $317,270, while used boat sales were down 1.5 percent to $728,686.

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