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Waylands Automotive ensured that the COVID-19 pandemic was no barrier to ongoing growth as it delivered a 4% increase in revenues and 150% rise in pre-tax profits from its network of Volvo dealerships in 2020.
Revenues rose to £89 million during the 12-month period to December 31, 2020, as PBT rose from £502,000 in 2019 to £1.25m as the Reading-based retail group delivered 66.2% EBITDA growth to £2.22m (2019: £1.34m).
Although it delivered a cautious outlook for the remainder of 2021 in its annual financial results report, the AM Awards 2020âs Best Dealer Group (up to 10 sites) also outpaced the market in sales terms while delivering an improvement in return on sales from 0.6% to 1.4%.