Just as we’re staring into the abyss of all car sales going online, up pops Vertu Motors’ chief exec Robert Forrester to report a superb trading performance across the last year. This, as Forrester said, was achieved across two national lockdowns and closed showrooms.
Forrester didn’t take all the glory though. “This result has been delivered by a huge Vertu team effort and I would like to thank every single one of my colleagues for their hard work and dedication in what has been an extraordinary period”, he said. “Notwithstanding the Government’s recently announced roadmap, the outlook remains uncertain given continuing COVID restrictions, although Brexit uncertainty is now behind us and the pound’s recent strengthening should help to make cars more affordable to UK buyers.”
So Vertu, home to the retail divisions of Bristol Street Motors, Macklin Motors, Vertu Motors and Farnell, is posting a £23 million profit before tax and a rise in revenues of over 4%. Of course, it has added almost 30 new franchised outlets over the last year, so more places to sell more cars. But this is a hell of a performance in extremely difficult times.
So, some very encouraging news from a strong and growing vehicle retail group.