Volvo Q1 2021 Results Spy Shoot.
John Clark Motor Accumulation angry in a able achievement in 2020 in the face of the pandemic.
Showroom closures did hit car sales and aftersales with aggregation about-face bottomward 12% to £721.8m.
But pre-tax profits surged 139% to £6.25m through bigger efficiencies and tighter amount controls.
During lockdown 90% of agents were placed in furlough but best were aback by June and all by October.
The accumulation added the cardinal of training canicule in 2020 and alien a new administration and administration development programme.
Operationally, it developed a new BMW and BMW Motorrad ability in Dundee, which opened in aboriginal 2021.
Redevelopment assignment on MINI and Volvo dealerships in Dundee are additionally already underway. And it bought acreage at Newbridge in Edinburgh for a new Volvo Cars facility.
The aggregation said it is anticipation to bear a able all-embracing 2021 with cogent advance in about-face and profitability.
Chris Clark, accumulation managing director, said: “We are tracking to bear a actual able achievement in 2021. As apparent beyond the majority of the automotive retail sector, customer confidence, appeal and bazaar dynamics accept apprenticed a amount of this increase.
“However, the operational assets and bigger controls apprenticed through 2020 accept delivered after-effects advanced of civic performances with abounding of our businesses actuality recognised in our authorization accomplice achievement rewards programmes in Q1 and Q2. We afresh attending advanced with confidence, pride, and gratitude.”
John Clark, administrator said: “Clearly, I am actual appreciative of the aggregation actuality able to bear the after-effects appear for 2020 adjoin a accomplishments of what charge be advised as