Is Partridge of Hampshire Still Profitable After Mini’s Agency Model Shift?
Partridge of Hampshire posted £4.27m profit in 2025 despite a 7.75% turnover dip from Mini’s agency model – see the full financial breakdown.
Overview of Partridge of Hampshire’s 2025 Results
Family‑run BMW and Mini specialist Partridge of Hampshire has confirmed another year of solid turnover and profitability, according to its latest accounts filed at Companies House. The dealership reported a pre‑tax profit of £4.27 million for the 12 months ending December 2025, signalling resilience in a market characterised by macro‑economic pressures and industry headwinds.
Turnover Impacted by Mini’s Agency Sales Model
One of the key challenges cited by Managing Director Toby Partridge was the introduction of Mini’s agency sales model on 1 March 2025. The shift contributed to a **7.75 % decline in total turnover**, bringing group revenue to **£232.18 million**. Despite the dip, the business highlighted growth in other areas, notably a **19.6 % increase in used‑car turnover** and a **4.3 % rise in aftersales revenue**.
Profitability Remains Strong
EBITDA, the metric used by the Car Dealer Top 100 ranking, stayed robust at **£5.85 million**. Gross margin also improved, moving from **9.1 % to 10.0 %**, underscoring the dealer’s ability to protect profitability even as overall turnover fell.
Director remuneration rose modestly to **£237,272**, while employee costs increased to **£9.11 million**, reflecting a workforce that grew to an average of **173 staff members**. The company paid **£1.55 million** in dividends during the year but did not recommend a final dividend at the year‑end AGM.
Strategic Investments and Brand Expansion
Partridge of Hampshire continues to invest in new sales channels and brand acquisitions. In late 2024 the group acquired Millstream Garage Limited in Guildford, adding a **Changan franchise** to its portfolio alongside the existing BMW/Mini franchise in Eastleigh, Southampton. The expansion provides a foothold in a rapidly evolving market and diversifies the dealer’s product offering.
“Our relationship with our franchise partner BMW remains very strong and mutually beneficial,” Toby Partridge said, confirming that the dealer expects this partnership to endure for the foreseeable future.
Financial Position at Year‑End
The balance sheet showed an improvement in net assets, rising to **£4.3 million** from **£3.3 million** the previous year. The stronger gross margin and growing used‑car and aftersales volumes were cited as primary drivers of the improved financial position.
Looking Ahead
While the Mini agency model reduced overall turnover, Partridge of Hampshire’s focus on used‑car sales, aftersales services, and brand diversification appears to cushion the impact. The added Changan franchise signals a willingness to adapt to market changes and potentially tap into emerging segments such as electric vehicles, although no EV models were disclosed in the current reporting period.
Overall, the dealer’s performance suggests that family‑run franchises can maintain profitability by leveraging strong brand relationships, expanding product ranges, and investing in ancillary revenue streams.