Vertu Motors has reported that it expects its pre-tax profits for the financial year ending February 28, 2021, to exceed analysts’ current £18 million forecasts. The AM100 PLC said that “strong marketing activity, maximisation of omni-channel retailing and cost control had meant that trading performance in the two-month period to 31 January 2021 continued its earlier reported positive trend.
The statement said: “Despite the impact of regional lockdowns throughout December and the national lockdown from 4 January, strong marketing activity, maximisation of the Group’s omni-channel retailing functionality and cost control have meant that trading performance in the two-month period to 31 January 2021 continued this positive trend.
“Overall profit performance also benefited from the previously announced cost reduction programme and the continued business rates holiday on showrooms.” Vertu did concede that “uncertainties remain” about trading conditions under the current ‘Lockdown 3’ regulation as February trading continued to be impacted. However, this week saw the group launch a drive to maximise its potential sales through ‘click and deliver’ services.
Simon Bailes Peugeot Celebrates as Entrepreneurs’ Forum Unveil Awards Finalists
Simon Bailes Peugeot is celebrating after its director, Simon Bailes, was named a finalist in the 2020 North East Entrepreneurial Awards.
Delivered by the Entrepreneurs’ Forum, the North East Entrepreneurial Awards comprise of five categories which recognise outstanding individuals at each stage of the entrepreneurial journey. The categories include Emerging Talent, Entrepreneur of the Year, Scale-up Entrepreneur, Mentor of the Year and Lifetime Achievement.
Simon Bailes has been announced as a finalist in the Entrepreneur of The Year Award. This category recognises an entrepreneur who has shown “incredible resilience and strength, to lead their own significant business to outstanding success through innovation, teamwork and leadership skills”. Simon Bailes has owned an established, NFDA member, Peugeot Motor dealer group with 3 dealerships across North Yorkshire and Teesside for over 40 years.
The winners of the awards will be announced in the week commencing 8th February during a week-long social media campaign.
Simon Bailes said: “I am delighted to be announced as a finalist for Entrepreneur of the Year by the Entrepreneurs’ Forum judges. 2020 has been a challenging year for many businesses, but we have continued to offer our services to key workers, customers and the community to the best of our ability.”
Marshall Motor Group has agreed to sponsor three professional darts players for the 2021 season, while online used car sellers heycar and Cazoo have confirmed sponsorships of the FA Cup on BT Sport and international snooker.
Trust Ford is seeing a surge in commercial vehicle orders due to the boom in home delivery. CEO Stuart Foulds told Motor Trader the group’s CV business was “on fire” in the lockdown, partly off-setting the 40 % decline in new car sales which the group is experiencing. With showrooms shut the Ford Now scheme, click and collect and home delivery were helping maintain business.
Foulds said that servicing was “just behind” where it should be in terms of business. “Car sales are a bit off the pace but commercial vehicles and parts are helping to plug the gap,” he told Motor Trader. Foulds said that there was some “nervousness about what customers can and cannot do” when it came to lockdown and this was exacerbated by regional differences.
Arnold Clark has partnered with Channel 4 to sponsor all drama content throughout 2021. The multimillion-pound campaign began in January and is Arnold Clark’s highest profile television sponsorship to date. Arnold Clark is a household name in Scotland and while its profile has increased across the UK thanks to a range of media campaigns, most notably sponsorship of the Talk Sport Breakfast Show, this new campaign is the company’s first major sponsorship on network television. At the initial launch, the sponsorship will use the company’s Real Sale creative, the UK’s biggest used car sale. However, this will be replaced by several bespoke creative shorts, conceived and shot in house by Arnold Clark’s Film Studio.