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Birmingham Post
Birmingham Post
Business
Jon Robinson

Profits more than double at Bentley as new models drive sales

Luxury car maker Bentley more than doubled its profits during the first three quarters of its financial year "despite continuing challenges and uncertainty in the global economy".

The Crewe-headquartered company has posted operating profits of €575m for the nine-month period, up from the €275m it achieved during the same time in its previous financial year.

The business, which is owed by VW, has also reported a revenue of €2.490bn, up 28% from €1.949bn.

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The 23.1% return on sales was the highest in Bentley’s 103-year history, the firm added.

Bentley also confirmed that its year-to-date sales are up 3% to 11,316 which it said was "largely due to the popularity of new model derivatives and the personalisation options available through Bentley Mulliner".

Sales in the Americas rose by 7% during the nine months, 18% in Europe, 17% in Asia Pacific and 25% in the UK. However, sales did fall by 17% on the Chinese mainland, Hong Kong and Macau and by 5% in the Middle East, Africa and India.

Chairman and chief executive Adrian Hallmark said: "While Bentley continues to tackle the challenges it faces in the global market, this latest set of financial figures shows strong results in most regions.

"The continued growth in revenue per car supports the options and limited edition models created by Bentley’s in-house coachbuilder Mulliner and the positive customer reception to our increasing range of model derivatives.

"Furthermore, the launch of the new Bentayga Extended Wheelbase model is expected to further boost sales of Bentley’s luxury SUV."

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