Fleet News

Vardy profits reach all-time high

DEALER and new contract hire group Reg Vardy saw new and used cars sales top a record 50,000 units in the six months to October 31, 1997 as pre-tax profits reached record levels. A total of 50,665 new and used vehicles were sold putting the 51-strong dealership group on target to sell more than 100,000 vehicles in the full year.

Half-year turnover increased 19% to £409.9 million (1996: £344.6 million) with pre-tax profits increasing 7% to £8.42 million (1996: £7.86 million). The company is engaged in a £15million-plus investment programme which would drive up both volumes and profits. The company is also on target to reach 60 dealerships with expansion announcements expected early this year.

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