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Cameron Group reveals sales revenue dropped £16m in latest results

Time 3 months ago

Scottish Volkswagen and Volvo dealership Cameron Motors in Perth has reported that turnover from sales fell by £16m last year.

In 2019 it reported revenue of £90m but the dealerships saw this fall to £73.7m in its financial report for the year ending May 31, 2020.

The dealer group has two locations in Perth, with Volkswagen and Audi on Dunkeld Road and a Volvo dealership branded Strathmore on Arran road.

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Operating profit dropped in the last financial year, down to £1.7m from £1.95m the year before.

However, while the directors said they expect the business environment to ‘remain competitive and challenging in the future’ they said the business ‘is in a strong position to meet all future developments in the retail car market’.

It added that the business has a strong balance sheet and total net assets were up £633,920 to £24.6m as of May 31, 2020.

Earlier this year, the group announce that it had relocated the Strathmore Volvo dealership to a brand new showroom following a £2m renovation.

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Read how Strathmore Volvo has revamped its showroom at a cost of £2m

The move allowed the dealership to operate from a larger premises with the latest Volvo standards.

At the time, dealer principal Norman Leishman said: ‘Our recent refurbishment isn’t just about a change of furniture, it’s designed to make our customers feel relaxed and at ease in an environment that provides flexible waiting, working and assessment areas.

‘The launch of our new Volvo Personal Service in January will additionally help to connect our customers with their technicians for a smooth and efficient experience. Our focus is always on putting the customer first and giving them a high-quality service, which they know and can trust.’

Rebecca Chaplin

Rebecca has been a motoring and business journalist since 2014, previously writing and presenting for titles such as the Press Association, Auto Express and Car Buyer. She has worked in many roles for Car Dealer Magazine’s publisher Blackball Media including head of editorial.

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