Spader dealers’ 2005 sales, profits up

SIOUX FALLS, S.D. – New boat sales, total dealership sales and net profits were up for the average dealer tracked by Spader Cos. during the 12 months ended Dec. 31, 2005 compared to 2004, the company reported in a recent statement. However, new boat inventories were also up substantially.

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.

While new boat inventories were up 20.2 percent to $2,756,622, compared to the previous year, new boat sales were up only 14.7 percent to $5,902,546.

The average dealer’s used boat inventories were down 1.9 percent to $284,193, while used boat sales were down 1.4 percent to $964,228.

Total dealership sales were up 12.3 percent from $8,164,241 to $9,169,190 for the average dealer during the 12 months ended Dec. 31 – compared to 2004, reported Spader.

Spader Cos. said its average marine dealer earned a net profit of $311,771 or 3.4 percent of sales during 2005, up 11.2 percent compared to $280,376 or 3.4 percent of sales during 2004.

The unit gross margin percentage was up 0.9 points from 17.7 percent in 2004 to 18.6 percent this past year, while total company gross margin percentage was up 0.5 points to 28.6 percent.

Spending was up both in terms of dollars and as a percentage of gross margin.

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