Fleet News

Profits boost for Vardy group

NORTH east-based dealership and contract hire group Reg Vardy plc has reported increases in pre-tax profit, turnover and vehicle sales. Company chairman and chief executive Peter Vardy announced a 17.7% increase in turnover to £667.4 million (1998: £567.1m) and a 17.9% increase in pre-tax profits to £14.97 million (£12.7m) for the six months to October 31, 1999.

He also reported a 23.3% increase in vehicle sales to 82,293 units, from 66,715 in 1998, across the group's specialist and volume divisions. The group, which now has 80 dealerships, is in the process of developing its internet site and is also looking to acquire further dealerships.

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