Peter Vardy sees profits up 56%

Peter Vardy sees profits up 56%

Scotland-wide automotive retail business, Peter Vardy Group Holdings, has seen a significant boost to its profits and turnover as it focuses on its target to be ‘the best place to work and the best place to buy.’

The Group’s accounts for the year to December 2015 show that turnover at the Glasgow-headquartered business rose by 11% from the previous year and operating profits were £12.1m, up from £7.8m in 2014.

Peter Vardy has invested heavily in state of the art premises to support internal and manufacturer growth plans over the next five years. During 2015 it invested £6m in Porsche Aberdeen, with a new Jaguar Land Rover showroom in the city is scheduled to open next month.

Peter Vardy, CEO, said: “The Group is performing ahead of its 2020 strategy after the first year and has focused its actions on six key objectives: colleague engagement, customer, or guest as defined in our business, satisfaction, developing manufacturer relationships, achieving financial performance targets, evolving digital strategies and giving 10 per cent of profits back to charity.

“Colleague engagement continues to be the Group’s leading key performance indicator with 90% of colleagues proud to work for the Peter Vardy Group and over 80% planning to remain with the Group in three years’ time”.

In June 2016 the Peter Vardy Group distributed share options to its 800 employees as part of its Peter Vardy Partnership Programme.

In its drive to evolve its digital status, the business saw annual website visits surpass 2.7m, an increase of 38% on the previous year. This translated into 72,000 digital enquiries.

 

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