Motability Operations Board publishes Annual Report and Accounts 2020
Motability Operations, which operates the Motability Scheme, today publishes its Annual Report and Accounts for the financial year ending 30 September 2020.
The Group report a post-tax profit of £149.8m; this represents a 1.6% Return on Asset which is consistent with the Group’s long-term profitability target of 1.5%.
Restricted reserves on the balance sheet have increased to £2,322m (FY2019: £2,172m), a level consistent with the policy of maintaining capital with an appropriate buffer above a calculated 99.99% threshold. The restricted reserves provide us with a capital base to meet the dual objectives of ensuring a stable and sustainable Scheme, and of providing a proportion of the financing required to fund the vehicle fleet.