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Turnover rises at Nidd Vale

Nidd Vale, the multi-franchised group based at Harrogate in North Yorkshire, has posted half-year turnover up almost 10% at £38.14m but has decided to not disclose its profit.

Colin Hainstock, chairman and chief executive, says: “The business is continuing to progress, with rising profits and a reducing level of debt. There is no single reason for this – the whole management team is focused every day on looking after our customers.

“We are ahead of our business plan.”

In the six months to the end of July, new and used vehicle sales rose by more than 7% to 3,125 units. Parts sales were up by 21% to £1.87m and service/repair turnover by 27% to £1.5m.

Nidd Vale holds Saab Vauxhall, Mazda and Seat franchises for Harrogate and Wetherby. Hainstock says: “We aren’t actively looking for expansion but would always consider any opportunity.”

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