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Park's Motor Group enjoys revenue and profit boost

Lanarkshire-based Park’s Motor Group enjoyed growth in revenue and profits in 2015.

In its accounts for the year to March 31, revenue from its motor division (it also offers coach hire), was at £523.4 million, up from £420.6 in 2015.

The dealer group acquired Macrae & Dick and Menzies Motors in January and included in the figure is £47m relating to trading in the new subsidiaries.

“Despite difficult trading conditions as a result of the general uncertainty in the economy, the company is in a good financial position at the end of the year,” company director Gerard Donnachie said in a statement.

Overall operating profit increased from £17.4m to £18.2m, with the two acquisitions contributing £1.1m. Profit before tax increased from £16.3m to £16.9m.

Parks operates a portfolio of luxury, niche and volume franchises from locations throughout Scotland including Glasgow, Hillington, Ayr, Irvine, Hamilton, Coatbridge, Motherwell, East Kilbride, Bathgate and Dunfermline.

In addition to motor vehicle retailing, the group operates a motorhome centre, four petrol forecourts, body repair centres in Hillington and East Kilbride and a fast-fit outlet as well as a trade parts wholesaling operation.

Also part of the business is Park's of Hamilton, a coach operator.

The company is wholly owned by Douglas Park who founded it in 1971 as a small, three-coach operation.

> The autumn update to the AM100 based on the latest statutory accounts is in the current issue of AM.

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