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Reg Vardy reports ‘encouraging’ interim results

Reg Vardy has reported a mild growth in half-year profit before tax in an upbeat statement from the group.

Continued expansion, good profit and the record strength of the group’s balance sheet featured in the half year results announced by the motor retailer today, despite a fall in the private car buyer market.

Half-year profit before taxation from April to October is up 0.6% on last year at £24.8m and turnover has risen to £849.6m compared to £794.6m in the same period in 2003.

Since October 31, 2002 Reg Vardy has focused strongly on acquisitions and has bought 28 new dealerships, the majority of which were under-performing businesses.

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