AM Online

Vardy half-year profits up 35 per cent

Reg Vardy, one of the UK's biggest dealer group's, saw takings rocket on the back of record new car sales for the six months to October. Pre-tax profits were up 35.2 per cent to £24.6m on a turnover of £794.6m – up 18 per cent from £668.7 in 2002.

The group has spent more than £34m in buying new businesses since February and is set to open two Vauxhall dealerships in the west of Scotland and a new Volkswagen dealership in Redditch, west Midlands.

Sir Peter Vardy, chief executive, says: “The new vehicle market in the United Kingdom, while very competitive, is running at an all time high. This buoyancy is mirrored in a strong used vehicle market."

The news comes as Sue Porter rejoins the company as group sales director. Porter, who spent five years with Vardy as sales development manager, moved to take up a position as director at Lancaster in 2001.

If you are not a registered user your comment will go to AM for approval before publishing. To avoid this requirement please register or login.

Login to comment

Comments

No comments have been made yet.