Motor retailer Vertu says extraordinary trading conditions means it is likely to see £75m adjusted pre-tax profit when it announces preliminary 2022 results in May.
The Gateshead based group - which includes a network of 159 sales showrooms and aftersales sites - contrasted the performance with £24.6m pre-tax profit in its 2021 financial year.
In an trading update to investors covering the five months to the end of January, Vertu said a limited supply of vehicles had helped to drive up margins and pushed average used care prices up by roughly 25% year-on-year. Gross margins were 46.4% for the period.
