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Arnold Clark reports record results for second year running

Arnold Clark has reported it achieved record turnover in 2013, the 60th year since the AM10 company was founded.

At £2.92 billion, turnover for the year was up 17.5% on 2012's total of £2.48bn.

Financial headlines:

> Pre-tax profits in 2013 were £85.2 million (2012: £60.5m).

> Net assets up to £597m (2012: £532m)

> New car sales (units) up by 10.9% to 88,697 (2012: 79,979)

> Used car sales (units) up by 16.8% to 142,964 (2012: 122,398)

"Low interest rates, a generally buoyant UK market for new and used cars, exceptional value for money and industry leading customer service all combined to deliver a very strong performance," a group statement said.

Arnold Clark's turnover in 2012 broke company records with turnover up 10.3% year-on-year. Chairman Sir Arnold Clark said at the time of their release that he expected turnover and profitability to be static in 2013.

Significant developments in 2013 included:

• A brand new purpose built Citroen facility on a five-acre site in Armadale – officially the largest Citroen dealership in the UK

• All five Mercedes dealerships underwent a substantial upgrade

• A new showroom was built on Dunkeld Road in Perth as well as a shared Kia and Fiat site at Sighthill in Edinburgh.  Redevelopment work was also completed at our East Kilbride Toyota dealership and Langstracht Ford in Aberdeen

• Tenanted motor dealerships were acquired in Leicester, Glasgow, Stirling, Warrington, Stourbridge and Wolverhampton

• The group's Wolverhampton training centre was refurbished to provide bespoke training in England, building on the success of its training centres in Glasgow and Edinburgh

• In September 2013, Arnold Clark acquired the entire share capital of Towquest, the main software provider for Arnold Clark Finance Limited – the contract hire, fleet management and daily rental arm of the group.

Group chairman Sir Arnold Clark said: "Despite some signs of improvement in the wider economy, we anticipate a challenging year ahead for the motor industry.

"We have consistently demonstrated we can succeed against this backdrop and early trading results have been encouraging.

"Our commitment to driving the company forward through unrivalled customer value and satisfaction remains as strong as it ever has over the last 60 years. I believe we are leading the way in the motor retail sector and look forward with confidence to what should be another successful year."

> For detailed accounts for 2013 and historic data click on the Arnold Clark link below for access to AMi. Access is free to dealers. Subscription packages are available to suppliers. Register for access at www.am-online.com/register



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Comments

  • PeterSmyth - 29/09/2014 17:31

    hats off!!! awesome result!!

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