Arnold Clark turnover hits record £3.3bn

Glasgow-based Arnold Clark Automobiles, Scotland’s biggest privately-owned company, said its turnover rose almost 12% to a record £3.3 billion in 2014.

“It is very fitting that the group’s 60th anniversary year has been the most successful to date,” said chairman and chief executive Arnold Clark.

The company reported that its new car sales underperformed the wider UK market with a 3.1% increase to 91,477 but used vehicle sales surged 10.8% to 158,384 for a combined total of 249,861.

Operating profit before goodwill amortisation rose £23.2 million to £120.3 million. Pre-tax profit rose from £85.2 million to £107.3 million.

However, chief executive Clark warned: “We anticipate that 2015 will be a more challenging year than 2014 and expect that the new car market will remain relatively static with used cars showing more modest growth …

“It remains our stated policy to keep the group well funded and able to react to any challenges or opportunities which present themselves.”

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