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Disposals boost John Martin Group

Newly filed accounts for Scottish franchised dealer John Martin Group show underlying losses were bolstered by exceptional profits from disposals.

In 2007 its pre-tax profit rose to £2m compared with £161,000 the previous year.

However the AM100 dealer noted a £3.1 exceptional profit from disposals of its Dunedin BMW and Mini business in Edinburgh to Peter Vardy.

When this exceptional gain is stripped out it leaves the group recording an underlying loss of £1.1m.

Sales dipped to £196m from £217m, due to disposals and closure of a Kia dealership in Edinburgh. It no longer represents the Korean brand.

Managing director Gordon Nisbet had not returned AM’s calls as we went to press.

In recent years John Martin Group has restructured to focus on its Edinburgh and Aberdeen heartlands.

With 33 franchises at 21 sites, its main partners are Vauxhall, Chrysler, Suzuki, Citroen, Hyundai, Mazda and Volvo.

John Martin Group's trading brands include Belmont and Murray Motor Company.

 

 



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