Peoples Ford doubles profits 19 | 11 | 2013
SCOTLAND'S LEADING FORD dealership group, Peoples, has doubled its profits for the last financial year. The surge coincides with the company's 30th anniversary.
Brian Gilda (pictured), who chairs the pioneering company, guided Peoples to a rise in profits and turnover.
Peoples employs more than 400 people at seven dealerships in Scotland and the north-west of England, at Edinburgh, Falkirk, Livingston, Bootle, Prescot, Liverpool and Accrington.
Pre-tax profits to the year ended July 31 — according to the latest annual report just released — doubled to £4.047 million on turnover which grew by £39.16m to £185.9m (26.7%). The results confirm the company’s best performance since it was founded by Gilda 30 years ago.
“The turnover increase reflected a significant improvement in the new car marketplace in the UK compared with the difficulties being experienced by major manufacturers in Europe," Gilda said.
"The profit increase is a consequence of the improvement in the new car marketplace together with strong cost control.”
Related: Ford to 'drive' Glasgow Games 2014
And the Scot highlighted that a combination of the number of returning customers, attracted by affordable finance packages, had boosted sales of used cars beyond expectations.
“Ford provides a great product," Gilda continued. "Their cars are the best product line ever and commercial vehicles, such as the Transit, are second to none.
“What is perfectly clear is that consumers rely on the feel good factor, and it is quite apparent that they are still taking a long hard look at discretionary spending until their own jobs and incomes can be safeguarded.”
Over the last record-breaking year, Peoples sold 15,000 vehicles and won two prestigious awards for “the highest absolute customer satisfaction” for car sales, the only Scottish Ford dealership to be given the accolade.
And Gilda admitted he was planning further acquisitions “if the right opportunities arise”.
He said Peoples’ success was built on the determination of the company’s directors, management and staff “to not only ride out the uncertain economic conditions but to deliver up the best possible results”.
And noting that Peoples’ performance had been achieved “against the backdrop of a domestic economy which is still constrained and a European economy which is far from benign”, he urged Chancellor George Osborne to inject certainty into the economy in his autumn budget statement on December 4.
Related: New Ford Ka concept leaked
“It is vital Mr Osborne works with the new Governor of the Bank of England Mark Carney to boost the economy by introducing measures which provide the financial sector, industry and consumers with the confidence necessary for investment and lending,” Gilda said.
Social responsibility plays a major part in Brian’s outlook and in March this year he introduced the Peoples Living Wage ensuring all his employees are paid at least 10% more than the National Minimum Wage.
Gilda is also a member of the mentoring panel on Dragons’ Glen which offers professional development opportunities for aspiring businesses while simultaneously raising cash for Scotland’s vulnerable children through the body’s association with Children 1st, formerly the RSSPCC.
He has also accepted an invitation to back Glasgow Caledonian University’s (GCU) new Enterprise Accelerator 'business incubator' scheme.
With other entrepreneurs, Gilda will be sharing his knowledge and experience to encourage and mentor students in best business practice on GCU’s campuses in Glasgow, London and New York.
Related: All-new 2014 Mini unveiled
Keep up-to-date with all the latest news by following us on twitter.com/scotcars
Jim McGill