AM100 group Vospers nears 3% RoS and nets document revenue to Could 2022.

Devon-based AM100 group Vospers grew its return on gross sales to 2.9% throughout 2021 and has carried robust profitability via to not less than Could this yr, in keeping with its newest accounts.

Its assertion at Corporations Home reveals RoS nearly 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 top of Could 2022 the motor retail group has “seen a document degree of buying and selling revenue forward of final yr and finances, unconstrained by lockdowns”.

“We wish to categorical our gratitude to the arduous work of all our group throughout a troublesome interval the place they’ve demonstrated nice resilience and excellent buyer care,” stated Vosper.

Vospers measures buyer satisfaction by its Repute Rating and it reviews that this improved to 714 factors from 516 in 2020, versus the business 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 rising our rating additional.”

Collectively, the board of administrators have near 200 years of motor commerce expertise and is nicely 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 concerning the medium time period, with new automotive provide shortages defending used automotive values nonetheless, and a signficant order financial institution of recent automobiles which is able to ship additional profitability within the second half of 2022.

Growth alternatives that align with the seller group’s strategic plan will all the time be thought-about.

“The group is nicely positioned with its producer relationships to develop and broaden its portfolio,” added Vosper.

“We’re commonly approached with new alternatives on account of our confirmed excessive degree of customer support and loyalty.”

Important investments in property lately have enabled Vospers, a long-serving Ford franchisee, to concentrate on ‘supersites’ which symbolize quite a few franchises from one massive location.

Its Exeter supersite, built at a cost of £15m, opened in 2019 and is continue to grow sales.

When AM interviewed Peter and Nick Vosper for a dealer profile feature in 2017 the chairman was vocal about the need for carmakers to support their retail networks and ensure they can achieve fair levels of profitability to allow them to speculate for the long run.

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