Record year for Vertu Motors
Car dealerships group Vertu Motors, which includes Bristol Street Motors in Stafford and West Bromwich, achieved record trading results for the year to the end of February.
The group, which has a network of 160 sales and aftersales outlets, saw revenue grow from £2.54 billion in the previous year to £3.61bn.
Pre-tax profit was up from £22.4 million to £78.8m
Chief executive Robert Forrester said: "The group performed at record profitability levels in the year. Undoubtedly aided by well-publicised sector tailwinds, the group executed well, gained share, strengthened its foundations, positioned itself for the transition to electric vehicles and displayed fundamental growth, all aided by its investment in the Click2Drive technology platform.
"The outlook will depend on the available supply of new vehicles and continuing consumer confidence. The group's excellent financial position provides the resilience to overcome any economic slowdown and resources to continue to grow."
There has been a strong trading performance delivered in key months of March and April with trading profit of £19.1m.
