Record year for Peoples 07 | 11 | 2016
SCOTLAND’S LARGEST FORD dealership group, Edinburgh-based Peoples, has reported record record profits, turnover and year-on-year sales for the fifth year in a row.
The Scottish group — which is actually the largest independent dealership in Europe retailing only Ford cars and commercial vehicles — reported a pre-tax profit of £7.05m on turnover which grew £23.9m to more than £260.6m for the 12 months ending July 31.
Founder and chairman Brian Gilda – one of Scotland’s most high-profile entrepreneurs – said he had reined in his expectations for the coming year amid political and economic uncertainty.
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But he emphasised he will continue to explore growth opportunities for the business, which comprises three dealerships in Scotland — Edinburgh, Falkirk and Livingston — and four in the north-west of England.
Across the group, Peoples sold 18,354 vehicles, a year-on-year rise of 5%.
And while Gilda identified the “laser-like focus” of the company’s senior management team as being pivotal to the company’s best performance in its 33-year history, he was scathing of the government’s hand in the UK’s current economic situation.
“In my 33 years as CEO of Peoples, I thought I had witnessed every combination of recession, financial turbulence and government incompetence to last a lifetime,” Gilda said.
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“The combination of government actions north and south of the borderalong with the unknown implications of Brexit could lead to a slowing of consumer confidence with the likely collateral damage on results.
“We will, of course, continue to review all revenue and cost items to ensure that we are as fit as we can be to best tackle the marketplace.”
And he stressed that while the company — which currently employs 405 people — continues to discuss expansion plans, he wanted assurances about the economy before moving forward with any immediate investment.
As part of Peoples’ Social Responsibility Policy, the company led the way in March 2013 by introducing a salary scheme which paid employees at least 10% above the Government’s original national minimum wage with no age restrictions.
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Jim McGill
Caption: Peoples chairman Brian Gilda with daughter, and group strategy & operations director Nicola Gilda