The group has also reported a 3.2% return on sales, from £11.27m and 2.4% return on sales, in 2019.

Turnover fell by 6.5%from £471.15m to £440.57m due to Covid restrictions causing the dealerships to close their doors for around a quarter of the year, though a record 42% of sales were transacted online as consumers became more confident in the online approach while restrictions were in place.

In the year under review, the Group operated six volume and six prestige dealerships, two used car supermarket operations and a heritage cars dealership throughout Scotland, with franchised businesses representing BMW, MINI, Jaguar Land Rover, Porsche, and Vauxhall.

Set up as a single dealership in Perth in 2006, Peter Vardy Group has grown to 14 dealerships across Scotland employing more than 1100 people.

Peter Vardy, chief executive, said: “2020 will be remembered as a terribly difficult period for society which profoundly influenced our colleagues, guests and communities in which we serve.

“During this challenging period, we focused on:

• The physical, mental, and financial well-being of our colleagues and their families
• Protecting employment – implementing a Covid related ‘zero’ redundancy policy
• Ensuring we were always open for key workers and investing in industry leading guest safety
• Giving back to the communities we serve.”

As regards Covid safety, the Group invested significant sums in Health & Safety measures on behalf of colleagues and customers in a range of leading-edge measures including thermal scanners PPE and additional health and safety representatives in all dealerships and its head office.

A critical part of the Group’s effort was its colleague support welfare plan which encompassed a ‘no redundancies’ policy, hardship loans and accelerated development of its pre-existing Wellness Hub in addition to online community support to keep colleague engagement high. This earned the group industry recognition with them winning the Auto Trade People and Culture Award.

Mr Vardy added: “As we now emerge from the restrictions imposed by the pandemic, we are prioritising growing the business, creating new employment opportunities and continue to develop our Net Better Off Programme for our colleagues.”

As part of this process, the Peter Vardy Group has sustained its digital sales focus with the roll out of a new sales structure across the group which is supported by the SilverBullet online sales platform software. This platform allowed the Group to facilitate omnichannel motor retailing and the introduction of an inhouse Transport Division in the Group supported the growing demand for home deliveries.

Giving back to the communities it serves remained at the heart of the Group’s focus throughout the year. Mr Vardy added: “An integral element of the Group’s strategy is our ‘Just Cause’ of ‘Every Life is Worthy’ and we prioritised supporting our colleagues, guests and communities as they faced the unprecedented challenges caused by the Covid-19 pandemic.”

He concluded: “‘Our Purpose’ is ‘We Sell to Give’ and we are proud not only to continue our charity giving during 2020 but to be able to support many of the organisations on the front line of the pandemic with our Covid support fund.”