Vertu Motors sees car market revival
The Aim-quoted group, which trades under the Macklin Motors brand in Scotland, grew revenue by 8.9 per cent to £1.1 billion in the year to the end of February, aided by its ongoing expansion. Profit before tax was up 3.8 per cent to £5.5 million.
The group added that trading in March and April was “significantly ahead of prior year and budget levels”.
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Hide AdChief executive Robert Forrester said: “The group has successfully navigated a challenging period for the industry driven by reduced consumer demand in 2011. Increased profit before taxation, strong cash generation and the continued development of the dealership portfolio were delivered.
“The group saw revenues in excess of £1bn for the first time and profit momentum was re-established in the second half of the year.”