10:30 am, September 29, 2022
John Clark Motor Group saw its pre-tax profit rise to a record figure of £24.06m last year.
The family-run-and-owned new and used car business, which has sites across Scotland, posted its best results in its 43-year history.
Its accounts for the year ended December 31, 2021 showed growth across all areas of the business, despite sector-specific and macroeconomic challenges.
Pre-tax profit rocketed from £6.26m in 2020 to £24.06m last year – a rise of 284 per cent.
New vehicle sales volumes grew by 7.2 per cent to 12,065, outperforming the UK market, which saw growth of just one per cent, while the group’s retail used vehicle sales volumes grew by 33.4 per cent to 20,831 units – a total of 32,896 vehicles.
Aftersales revenue rose from £66.4m in 2020 to £79.5m last year – an increase of 19.7 per cent.
Overall gross margins saw ‘significant growth’ – driven in part by the higher used vehicle sales volumes as well as ‘unprecedented used market conditions’.
Turnover grew to finish the year at £910.3m – up from 2020’s £721.8m and pre-pandemic 2019’s £820.8m.
Its Ebitda value, meanwhile, improved to £32.55m from £15.35m, while operating profit before interest rose to £26.36m from £8.8m.
Staff headcount was relatively stable, with a full-year average of 1,269, which was three down on 2020’s 1,272.
Among the year’s highlights, staff at the BMW sites in Aberdeen and Dundee plus Volkswagen Fife, Skoda Perth and Land Rover dealerships in Edinburgh, Perth and Elgin were all recognised for their 2021 success within their manufacturer awards programmes.
In addition, Glassdoor ranked the group’s senior management team within the top 25 UK companies for their leadership skills.
A statement from the group said: ‘Used cars are performing well, whilst new vehicle volume is suffering from shortage of supply due to the global semiconductor issue.
‘However, the combination of a strong HY1 and further increases in used car and aftersales contribution is expected to deliver another strong overall 2022 performance.’
Group managing director Chris Clark, pictured, said: ‘I am immensely proud of what our teams have achieved in 2021.
‘They have rebounded from the 2020 challenges and delivered our most successful results in our long 43-year history.
‘Whilst I acknowledge that aspects of the market dynamics were very much on our side, I know that our teams worked tirelessly to come together as they harnessed their collective experience and channelled their abilities to make the very most of every opportunity.
‘I want to sincerely thank them for all their hard work.’
Car Dealer reveals the most profitable dealers in its Top 100 list every year. Find out who last year’s winners were here.
