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.

Leave a comment for your chance to win £20 of John Lewis vouchers.

Every issue of Fleet News the editor picks his favourite comment from the past two weeks – get involved for your chance to appear in print and win!

Login to comment

Comments

No comments have been made yet.

Compare costs of your company cars

Looking to acquire new vehicles? Check how much they'll cost to run with our Car Running Cost calculator.

What is your BIK car tax liability?

The Fleet News car tax calculator lets you work out tax costs for both employer and employee