A FORD dealership based in the Capital has defied the economic gloom by recording its second-biggest profit in 28 years of business.
The Edinburgh-based Peoples Motor Group, which employs 400 people at six dealerships in central Scotland and Merseyside, posted a pre-tax profit of £1.6 million for 2011/12, while group turnover surged by 2.2 per cent to £144m.
Chairman Brian Gilda said: “By any standard, this was an impressive result against the background of the deepening economic gloom. Higher unemployment, pay freezes, the Eurozone crisis, record petrol and diesel prices, all contributed to what was a difficult and challenging year.
“Despite the uncertain economic conditions, the management and staff of Peoples were determined not only to ride out the storm, but deliver the best possible results. This we undoubtedly did.”
However, he said that 2012 was looking challenging, with consumers “taking a long, hard look at discretionary spending” and he said he would be looking closely at costs to make sure the firm is “as fit as we can be”.