John Clark posts record PBT in year of investment

John Clark has posted a profit before tax increase from its previous record of £24.1m to £25.3m.

In its end of year accounts to December 31st 2022, the Group reported that overall turnover rose to £914.3m (up from £910.3m in 2021 and our pre Covid pandemic 2019 value of £820.8m).

Its aftersales operations performed well, generating revenue growth of 8% to a new record value of £85.8m.

The Group carried out a programme of investment over the year, acquiring new property in Aberdeen in early 2022 that allowed the transfer and consolidation of its Nissan operation in the city to its existing Renault and Dacia complex. It also completed a new facility in Edinburgh for Volvo Cars and began redevelopment in Aberdeen to support the extension of the group’s representation of the Volvo Cars franchise to a third city in the East of Scotland market area.

A further freehold in Dundee was acquired, which will be redeveloped to support the relocation of Skoda, Seat, Cupra and Volkswagen Commercials franchises, as well as the addition of the growing MG brand.

Chris Clark, group managing director said: “I am clearly very happy to report further year on year gains continuing to build on our success of previous years. Our teams can once again celebrate playing their part in what has been another great year for the Group, and we remain incredibly grateful for all the hard work and effort that each one of our colleagues puts into their roles. I know we have one of the best teams in the industry and I am very proud to be part of it.

“Having again carried forward a higher than historic volume of new vehicle customer orders, the group continues to again generate positive trading results in 2023. Our June 2023 Management Accounts reflect Turnover and Net Profit before tax values which are ahead of budget, with our Balance Sheet Net Assets as at June 30th 2023 crossing the £100m threshold and our projected full year Turnover approaching £1bn”