Arnold Clark drives up turnover to record levels
This article contains affiliate links. We may earn a small commission on items purchased through this article, but that does not affect our editorial judgement.
The group said used car sales rose by 10.8 per cent to more than 175,500 units, buoyed by the opening of news sites and bringing total sales to £3.35 billion.
Pre-tax profit rose 2.2 per cent to £110.3 million, although new vehicle sales fell 8.4 per cent to 83,813 units, “largely a result of a large fleet contract that was not renewed due to the significant amount of working capital tied up in the agreement”.
Advertisement
Hide AdAdvertisement
Hide AdAdditionally, the Glasgow-based dealership said its vehicle-management and daily rental business, Arnold Clark Finance, increased turnover by 10.7 per cent to £559.2m.
Group chairman Sir Arnold Clark said: “In 2016 we expect that the new car market will remain relatively static, with used cars experiencing similar growth to 2015.”