Partner Article

Vertu Motors to accelerate growth plan

VERTU Motors has said the company plans to continue on the acquisition trail as it looks to achieve its growth targets.

The fast-growing Newcastle company, which is the UK’s 8th-largest car dealer with 66 outlets, said it was meeting its 2010 expectations at its AGM.

Chairman Paul Williams said: “Whilst the board recognises the weakness of the current economic environment, it anticipates the Group’s results for the financial year will be in line with current market expectations.”

The past year has seen Vertu acquire 13 new car dealers, with all of them performing in line with the group’s business plan.

The most recent Ford, Mazda and Vauxhall acquisitions will be making money for Vertu by 2012, while more look likely to be on the way.

“The board continues to evaluate a significant number of growth opportunities to enable it to fulfil its stated objective of building a successful, scalable motor retail group delivering shareholder value,” Williams said.

This was posted in Bdaily's Members' News section by Ruth Mitchell .