Record turnover for Arnold Clark 07 | 10 | 2013

    SCOTS CAR GIANT, Arnold Clark, has reported a 10.3% increase in its turnover over the year to December 2012, up to £2.48 billion. The figure compares with £2.25bn in 2011, and the group put the increase down additional revenue from a series of acquisitions.

    The company — Europe’s largest privately owned car dealer, selling in excess of 200,000 vehicles per year — also saw pre-tax profits rise from £51.7 million in 2011 to £60.5m. New and used vehicle sales increased by 10.3% and 4.6% respectively.

    In addition, new car sales improved to 79,979, compared to 72,538 in '11, and used 122,398 (116,994), although on like-for-like it was a 1.2% increase with much of the growth coming from acquired sites in a "relatively stable market".

    Operating profit before goodwill amortisation increased by 18.3% to £73m, meaning the group exceeded net assets of £500 million for the first time.

    Related: Arnold Clark boosts tyre safety

    "Whilst the wider economic situation remains uncertain, the consensus in the motor industry is for modest growth in both the new and used retail markets," the Glasgow-based group's chairman, Sir Arnold Clark, chairman, said.

    "The board predicts that turnover will increase in the coming year and expect profitability to remain at levels similar to 2012.

    "Our hard work and impressive results in recent years mean we are confident about our ability to achieve profitable expansion, both organically and through strategic acquisitions.

    "We have laid down strong foundations for growth and are fully committed to achieving our goal of being the UK's pre-eminent motor retailer."

    In the first half of last year, Arnold Clark added five significant additions to its portfolio, purchased in cash transactions: the most significant was the five-strong Mercedes dealership group of Grangemouth-based John R. Weir.

    In addition to Mercedes in Grangemouth, Perth, Dundee, Aberdeen and Inverness, the JRW deal also brought Smart in Perth, Inverness and Aberdeen, plus Kia, Jeep and Chrysler in Perth.

    Related: Peter Vardy starts Scots jobs drive

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    Jim McGill


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