Automotive retailer Vertu Motors, which has more than 100 dealerships across the UK under the Bristol Street Motors, Farnell and Macklin brands among others, has reported record half-year pre-tax profits.
It is said that the Gateshead-headquartered company generated a profit before tax of £24.2m in the six months to 31 August 2017, a 29.4 per cent hike on the £18.7m reported last year.
Revenue for the six months remained flat at £1.45bn.
Chief Executive Robert Forrester is reported as saying:
“The board is pleased to see further growth in used car volumes and aftersales revenues against a back drop of the weakness of sterling reducing the supply and increasing the prices of new cars.”
“Pleasingly, underlying operating expenses reduced year on year in the period as a result of management focus at a time of increasing costs across the industry.”
As an organisation we have had the privilege to work with Robert Forrester and indeed many other large Dealer Groups within the Automotive Industry. We will be delighted to hear from you if you wish to take your next career steps in the Motor Industry, or if you would like to discuss any recruitment requirements you are planning for or indeed immediate requirements.
(source information: am-online.com / Insider Media Ltd)