Athol Strachan, managing director of the Aberdeen-based group, says operating profits are ahead 11%, but concedes success hinges on 55-plate sales. “Last year was tough as we had to deal with the disposal of a non-profitable franchise. But we have taken the costs involved with that transaction into account and are now enjoying more buoyant trading,” he says.
Town & County has Land Rover, Porsche and Subaru outlets in Aberdeen and Isuzu, Daihatsu, Seat and Subaru in Perth. It sold the Seat site in Aberdeen to Arnold Clark. It’s now a Lexus franchise.
“Results from our Land Rover, Porsche and Subaru operations are ahead of expectations,” says Strachan. “That’s due in part to the introduction of new products.”
Pre-tax profits fell last year from £494,000 in 2003 to £402,000 on turnover of £60.3m.