Devon-based AM100 group Vospers grew its return on gross sales to 2.9% throughout 2021 and has carried sturdy profitability by to no less than May this 12 months, based on its newest accounts.
Its assertion at Firms Home reveals RoS virtually doubled from the 1.5% achieved in 2020, whereas revenues grew by £16.5 million year-on-year to £238.9m.
Revenue earlier than tax doubled from £3.4m to £6.9m, and Vospers’ chairman Peter Vosper stated within the accounts that to the tip of May 2022 the motor retail group has “seen a report stage of buying and selling revenue forward of final 12 months and price range, unconstrained by lockdowns”.
“We want to specific our gratitude to the exhausting work of all our crew throughout a tough interval the place they’ve demonstrated nice resilience and excellent buyer care,” stated Vosper.
Vospers measures buyer satisfaction by its Status Rating and it experiences that this improved to 714 factors from 516 in 2020, versus the trade common of 601 (588 in 2020).
Vosper, who heads the group alongside along with his son Nick in the managing director function, added: “We’re happy with this enchancment and are persevering with to work on growing our rating additional.”
Collectively, the board of administrators have near 200 years of motor commerce expertise and is properly geared up to cope with ongoing challenges to the enterprise, he stated. Wendy Horswell was lately promoted to the place of HR director, becoming a member of the board after seven years with Vospers.
The accounts assertion reveals the administrators are assured in regards to the medium time period, with new automotive provide shortages defending used automotive values nonetheless, and a signficant order financial institution of recent autos which is able to ship additional profitability within the second half of 2022.
Growth alternatives that align with the supplier group’s strategic plan will at all times be thought-about.
“The group is properly positioned with its producer relationships to develop and develop its portfolio,” added Vosper.
“We’re often approached with new alternatives because of our confirmed excessive stage of customer support and loyalty.”
Important investments in property in recent times have enabled Vospers, a long-serving Ford franchisee, to deal with ‘supersites’ which symbolize quite a few franchises from one massive location.
Its Exeter supersite, constructed at a value of £15m, opened in 2019 and is proceed to develop gross sales.
When AM interviewed Peter and Nick Vosper for a supplier profile function in 2017 the chairman was vocal in regards to the want for carmakers to assist their retail networks and guarantee they will obtain truthful ranges of profitability to allow them to take a position for the long run.