CAR dealership Vertu Motors says new businesses and a strengthening used vehicle market has helped increase profits.
The Gateshead-based firm, which trades as Bristol Street Motors, revealed revenues lifted 29.5 per cent to £1,083.9bn for the half-year to August 31.
Bosses said pre-tax profits were 48.8 per cent higher at £12.8m.
They added the company had added six sales outlets since March 1, cementing its place as the UK’s sixth largest dealership.
Robert Forrester, chief executive, said: “The board is delighted with the record first-half performance.
“Recent acquisitions, such as last year’s Farnell Land Rover business particularly, have made a strong contribution and the core business continues to benefit from management success in improving returns in the used car and servicing areas.
“We continue to deliver on the group’s strategy to recruit and retain motivated and talented people in every dealership to ensure the business is management driven and not market driven.”
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