Fleet News

Gowrings sell-off talk dismissed as 'scaremongering'

THE boss of Gowrings, the conglomerate which includes three Ford dealerships and three bodyshops, has dismissed speculation the company is under pressure to sell off its motoring interests. The Guinness Peat Group, which has a 12% stake, is understood to have called on Gowrings to concentrate instead on its fast food business. The company owns 31 Burger King franchises.

But chief executive Derek Coulson said: 'There's no truth in this. This story has been circulated in an attempt to up the share value and is simply scaremongering. Growth remains our strategy. We are proving resilient amid steady business and we are teamed with Ford, which is number one in the industry.'

Gowrings will publish its annual results on March 8. For the first half of 1998 Gowrings announced operating profits up by 33% to £721,000 and turnover up 11% to £34.6 million.

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