Profits boost at Glasgow’s Shields Automotive

PROFITS at Glasgow-based car dealer Shields Automotive motored ahead last year after the company sold its loss-making Toyota franchises to industry giant Arnold Clark.

Accounts filed at Companies House showed that pre-tax profits revved up to £351,000 for the year to 30 June from £173,000 in the previous 12 months.

Turnover from the remaining Land Rover franchise increased to £20.5 million from £17.6m.

Selling its Toyota operations to Arnold Clark in August 2011 came a year after Aim-quoted Vertu Motors had bought Shields’ dual-franchised Ford and Mazda sites in Glasgow and Hamilton for £2.5m.

Staff numbers dropped to 33 from 91 following the sale to Arnold Clark, with the wage bill falling to £1.4m from £2.6m. The highest-paid director’s salary was flat at £83,000.