Car dealer grows
Online sales help lift profits at Peter Vardy
Peter Vardy: focused on growth
Online sales helped Peter Vardy, the Scotland-headquartered car dealership, post a rise in underlying profits last year despite a fall in revenue.
The 14-outlet group reported EBITDA of £14.26m in the year to the end of December 2020 from £11.27m in 2019.
Turnover fell 6.5% from £471.15m to £440.57m due to Covid restrictions causing the dealerships to close their doors for around a quarter of the year, though a record 42% of sales were transacted online as consumers became more confident in the online approach.
In the year under review, the group operated six volume and six prestige dealerships, two used car supermarket operations and a heritage cars dealership throughout Scotland, with franchised businesses representing BMW, MINI, Jaguar Land Rover, Porsche, and Vauxhall.
Chief executive Peter Vardy said: “As we now emerge from the restrictions imposed by the pandemic, we are prioritising growing the business, creating new employment opportunities and continue to develop our Net Better Off Programme for our colleagues.”