Franchised dealer group, Vertu Motors, announced they could realise “ambitious growth aspirations”. Robert Forrester CEO, said “This result has been delivered by a huge Vertu team effort. I would like to thank every single one of my colleagues for their hard work and dedication in what has been an extraordinary period.”
Forrester, revealed the board expects its trading result for the year ended February 28, 2021, at an adjusted profit before tax level, to be “in-line with current analysts’ forecasts of around £23m”.
Vertu operates Bristol Street Motors, Macklin Motors, Vertu Motors and Farnell retail divisions. The group also saw revenues rise by 4.1% during the period thanks, in part, to the addition of 29 new franchised outlets.
Forrester said he was “pleased” to report the group’s positive outcome in a year heavily impacted by the effects of the COVID-19 pandemic.
Over 3,000 customers used the group’s new £99 reserve online functionality, introduced in June 2020.