Peoples' £4.3m record profits 03 | 11 | 2014
SCOTS FORD GIANT, Edinburgh-based Peoples, has announced record-breaking financial results and sales performance for the year to July 31, 2014.
Building on last year’s performance — which also set new records — the group's latest figures, revealed by chairman Brian Gilda (pictured), reported increased profits, turnover and year-on-year sales.
The group's annual report shows pre-tax profits for the year ended July 31 of £4.361 million (up 7.8% YOY) on turnover that grew by £19.1m to £205m (10.3%). Peoples sold 16,129 vehicles in its last financial year, up 8.3% YOY.
Sales across the group, which comprises three dealerships in Scotland and four in the north-west of England, totalled more than 16,000 vehicles, a year-on-year rise of 8.3%.
The commercial vehicle division expanded earlier this year and is running at 38% above the previous year.
Gilda — who has represented Ford for more than 30 years — said the current vehicle range was “unquestionably the best it has ever been”.
“No matter where you touch the range, the quality of the product, the cycle plan for future models and the support from Ford Credit is nothing short of spectacular. It really is the best line-up I have ever seen,” he said
The range will be further boosted as Peoples leads the way in introducing the new FordStore concept at the company’s flagship sites in Edinburgh and Liverpool where the iconic, new Mustang and luxury Mondeo Vignale range will be sold.
FordStores will open in Liverpool later in 2014 and in Edinburgh in the first quarter of 2015.
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Gilda — who confirmed the company will continue to look for possible opportunities to expand in Scotland and England.
Gilda — has recently been appointed chairman of the European Ford dealer council.
“The overall new car marketplace in the UK continues to grow but it could be reaching its peak as manufacturers turn their attention and financial muscle to support those other European countries which are slowly recovering from the financial tsunami that nearly consumed them,” he continued.
“Now the Scottish referendum is behind us, I hope we can now return to inclusive politics and strategies which promote economics and concentrate on what is needed north and south of the border.
“We need to progress those investment decisions which were on the back-burner and get on with creating real jobs which are the lifeblood of our country.”
Peoples employs 395 people across its dealerships in Scotland and England and the company invests heavily in staff training to deliver the highest level of customer service.
Gilda said: “Consumers will go where they get great products and service and feel comfortable doing business. I do all I can to ensure we all benefit.”
Peoples Group consists of seven Ford main dealerships, three in central Scotland and four in the north west of England, located at Hermiston Quay, Edinburgh; Callendar Road, Falkirk; Almondvale, Livingston; Orrell Lane, Bootle; Bridge Road, Prescot; Speke Hall Road, all Liverpool; Whalley Road, Accrington.
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Jim McGill