Peter Vardy profits rise 64%

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Scottish car firm, Peter Vardy, has reported a rise in profits by 64% in its results for the first half of 2015.

The Group, which now employs more than 800 people across sites stretching from Aberdeen to Glasgow, generated underlying profit of £8.7million over H1, with an average profit of £791,000 per dealership during the period. Turnover increased by over 10% to £224million, with a return on sales of 3.9%.

Its high-tech CarStore concept has seen sales at its Glasgow site set to exceed 4,000 units by the end of the year, and plans for a second on the Kingsway in Dundee were announced earlier this week.

Peter Vardy has also seen increases in the digital environment, with website visits set to rise by 65% and exceed 3 million for the year.

Chief executive Peter Vardy said: “The Group remains proud of its achievements since it was founded in 2006. It is now far stronger and on course to realise its ambition to become a world class motor retail organisation.

“I am particularly pleased that in a survey almost nine tenths of our more than 800-strong staff indicated that they are proud to work here and that 80% of them would recommend Peter Vardy to friends and family as a great place to work.

“Ours, I believe, is a work environment which genuinely offers a range of career opportunities and operates a leadership development programme which focuses on future talent.”

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