Turnover up 36% at Jaguar Land Rover’s Irish arm

Jaguar Land Rover's Irish distributor saw turnover rise 37 per cent last year to €110 million as recovery in the motor trade took hold. Part of the OHM Group and registered as Armalou Holdings Limited, the business is responsible for the importation and distribution of Jaguar and Land Rover in Ireland. It operates the Spirit Motors retail network, which sells vehicles for the two British brands along with holding sales franchises for Volvo, Ford and Skoda.

Accounts filed for 2014 show turnover was up from €80.6 million the previous year. Operating profit rose 10.7 per cent to €3.06 million last year. The directors of Armalou Holdings are listed as Gabriel Hogan and Declan McCourt. Mr McCourt is also a director of Fyffes and a former non-executive director of Bank of Ireland.

The figures represent a significant turnaround for the business, which faced major challenges during the recession. In 2007, the group reported sales of €178 million, with an operating profit of €6.5 million. In July 2009, it took over the distribution of Range Rover and Land Rover. By the end of that year, turnover had dropped to €55.9 million with an operating loss of €4.8 million.

In March 2010, the business separated its Jaguar Land Rover and car retail operations from its other interests. Land Rover has recorded significant growth in recent years, up from 408 in 2013 to 532 last year. Sales this year currently stand at 705 new registrations to the end of October.

Jaguar sales have also risen, from 154 in 2013 to 190 last year and 261 to the end of last month. Both brands are expected to grow significantly in the coming years as part of significant expansions of their model ranges. The Spirit arm of the business has expanded its retail network since it was formed in 2004 and now trades from eight premises in south Dublin and north Wicklow.

According to Gerard O’Farrell, group director, car division at OHM Group: “We expect figures for 2015 to show continued growth, both in our wholesale and retail operations.”

Separately, the OHM Group is also involved in the importation, distribution and sale of commercial vehicles, forklift trucks, generators and spare parts for the Daf, Hyster and SDMO brands in Ireland through a connected company, Armalou Limited. Its last filed accounts show an operating profit of €665,531 for 2013, on a turnover of €33.96 million.