Vertu expects to make further deals soon

CAR dealer Vertu Motors is expecting to continue its rapid growth, with more deals for sites planned in the coming months.

The Team Valley company said it was "considering a number of additional acquisition opportunities", having already expanded its roster from 59 to 77 since March last year. The company has been active in buying dealerships since raising growth finance in 2009.

Vertu's preliminary results this morning revealed it achieved better than expected revenue of £998.9m in the year to February 28. New vehicle volumes rose by 1.2% compared to a market decline of 10.5% in the UK, while used car volumes were up 7.1% in a flat market.

The company said it would also start retailing electric vehicles at its Renault and Nissan sites this year, with Vauxhall adding to that list next year.

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