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Vardy posts record £45.6m profit

Reg Vardy has reported record profits for the last financial year.

Turnover has increased by £284.9m to £1.6bn with contributions from the 18 new acquisitions in the year and the expansion of group fleet operations. Profit before tax has risen by 17.5% to £45.6m.

Sir Peter Vardy, chief executive, says: “Once again the group has achieved record results whilst increasing the number of dealerships from 73 to 91 in the reported period. In addition, we are pleased to announce the acquisition of a Vauxhall dealership in Hartlepool this week.

“Consolidation in our sector will greatly assist the group as it looks to (and beyond) its near term target of 100 dealerships.”

These record results have increased Reg Vardy plc’s market presence, which coupled with a strong balance sheet and low levels of borrowing has generated increasing returns for shareholders.

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