Vertu Motors “has had a strong start to the year” says Zeus
Vertu Motors plc (LON:VTU) has released an AGM Trading update that communicates a continuation of the strong trading announced on 11 May. The trends of constrained supply and high margins continue. We leave forecasts unchanged today, but this positive update for the first third of FY23 helps to underpin our full year forecasts. ¨ Trading […]
Vertu Motors appoint Bruce Clark as Chief Technology Officer
Vertu Motors plc (LON:VTU), the UK automotive retailer with a network of 159 sales and aftersales outlets, is delighted to announce the appointment of Bruce Clark as Chief Technology Officer, a newly created role within the senior management of the Group. Bruce Clark, was previously IT Director. Exploiting the opportunities that technology offers is a […]
Vertu Motors secure long-term interest in important Derby location
Vertu Motors plc (LON:VTU), the UK automotive retailer with a network of 159 sales and aftersales outlets, has announced the purchase of the freehold and long leasehold interests in its extensive multi-franchise site located in Derby. The Group has operated the 5.5-acre Derby multi-site since September 2012, when the trade and assets of the dealerships […]
Vertu Motors share buyback programme update
Vertu Motors plc (LON: VTU) has announced that on 07 April 2022, it purchased 201,999 ordinary shares of 10p each in the Company on the London Stock Exchange, pursuant to the share buyback programme that was announced on 2nd March 2022 as follows: Date of purchase 07 April 2022 Number of ordinary shares purchased 201,999 Highest price paid per ordinary […]
Vertu Motors shares clearly remain undervalued (Analyst Interview)
Vertu Motors plc (LON:VTU) is the topic of conversation when Director and Head of Research at Zeus Capital Mike Allen joins DirectorsTalk. Mike explains how the company performed during the period, any changes this has meant to the forecasts, how he views the company in terms of a valuation, the outlook for the company and […]
Vertu Motors further upgrade of expected trading performance for FY22
Vertu Motors plc (LON:VTU), the UK automotive retailer with a network of 159 sales and aftersales outlets, has announced the following update with regards to the five-month period to 31 January 2022 ahead of its preliminary results for the year ended 28 February 2022 to be announced on 11 May 2022. Robert Forrester, Chief Executive […]
Vertu Motors awarded the Toyota franchise in the West of Scotland
Vertu Motors plc (LON:VTU) has announce that Macklin Motors, the trading name for Vertu in Scotland, has been awarded the Toyota franchise in the West of Scotland from 1 April 2022. The Group intends to develop four dealerships in the coming periods to cover this extensive territory with the first dealership at Darnley, South Glasgow […]
Vertu Motors “great deal of growth potential and hidden value” says Zeus Capital
Alongside its primary franchised dealerships businesses (Vertu Motors, Bristol Street Motors and Macklin Motors), Vertu Motors plc (LON:VTU) operates a number of ancillary businesses. These include car parts and accessories, cosmetic repairs, van retail broking to commercial customers, online lease advertising, and taxi supply. We think there is a great deal of growth potential and […]
Vertu Motors acquires two Toyota dealerships located in the East Midlands
HIGHLIGHTS · Acquisition of two established, profitable Toyota dealerships located in the East Midlands, building the Group’s market share with this leading manufacturer. · The businesses will be branded Vertu and supported by the increasingly successful website, vertumotors.com · Cash consideration of £9.2m will be funded from the Group’s existing cash resources · Acquisition expected to be earnings enhancing […]
Vertu Motors forecasts upgraded by Zeus Capital increasing FY22 PBT by 7.7% to £70.2m
Vertu Motors plc (LON:VTU) has released a trading update increasing FY22 underlying PBT guidance to “no less than £70m”, up from prior guidance of “at least £65m”. This was driven by new vehicle supply being better than expected in October and November, sold at enhanced margins, and a continuation of above-normal used car margins. We […]
Vertu Motors further upgrade of expected trading performance for FY22
Vertu Motors plc (LON:VTU) has provided an update on recent trading activity and a further upgrade to the full year outlook. Group profitability in October and November 2021 continued to be delivered in excess of its business plan and also prior year levels. Shortfalls in the supply of both new and used vehicles in the […]
Vertu Motors interim dividend of 0.65p to be paid on 21 January 2022
Vertu Motors plc (LON:VTU) has confirmed that the interim dividend of 0.65 pence per ordinary share announced within the Company’s interim results on 13 October 2021 will be paid on 21 January 2022, rather than 22 January 2022. The ex dividend date will remain as 16 December 2021, and the associated record date will remain […]
Vertu Motors CEO Robert Forrester says “remarkable performance outperforming market trends”
Vertu Motors plc (LON:VTU), the automotive retailer with a network of 154 sales and aftersales outlets across the UK and a sector leading online presence, has today announced its interim results for the six months ended 31 August 2021. HIGHLIGHTS · Record trading results delivered with Adjusted1 profit before tax of £51.8m (H1 FY21: £4.7m, H1 FY20: £16.9m), […]
Vertu Motors: Capital allocation specialists
Vertu Motors plc (LON:VTU) has delivered another earnings upgrade driven by strong ongoing used car margins, in what is effectively an early delivery of the H1 pre-close update. Dividend payments will resume, and a share buyback programme has also recommenced. The shares look too cheap to us even on 2023/24 EPS backed with a current […]
Vertu Motors upgrades its estimate for profit before tax
Vertu Motors plc (LON:VTU) has stated today ahead of the announcement of its results for the six-month period ending 31 August 2021, the Group is providing an update on current trading and a further upgrade to the full year outlook. The Group continues to experience strong used vehicle gross margin retention, driven by the exceptional […]
Vertu Motors: Another upgrade
Vertu Motors plc (LON:VTU) has released an unscheduled trading update, delivering another earnings upgrade to 2022E, this time in excess of 30%. This is driven by the strength of the used car market, although we believe Vertu is outperforming particularly in terms of securing supply. We believe the shares remain significantly undervalued, and that it […]
Vertu Motors sales volumes at higher levels than previously anticipated
Vertu Motors plc (LON:VTU) has today stated that as a consequence of the continuing strong trading performance, the Group is providing an update on current trading and an upgrade to the full year outlook. Exceptional UK used car market conditions have resulted in the Group experiencing strong gross margin retention, which has had a material […]
Market Risers: Unilever, Vertu Motors, Whitbread
Shares in Unilever ticker lookup code: LON:ULVR has moved up 1.13% or 48.5 points during today’s session so far. Investors have stayed positive during the trading session. The period high has peaked at 4346 while the low for the session was 4301.25. The total volume traded so far comes to 820,624 with the daily average […]
Vertu Motors strong trading trends continue
To date Vertu Motors plc (LON:VTU) has seen a continuation of the strong trading trends witnessed in March and April as explained in the year end results announcement released on 12 May 2021. If these trends continue, a strong first half financial performance is anticipated, however, there remain risks in relation to the remainder of the […]
Vertu Motors Analyst Q&A: Management team drove efficiencies and cost savings (LON:VTU)
Vertu Motors plc (LON:VTU) is the topic of conversation when Zeus Capital’s Head of Research Mike Allen caught up with DirectorsTalk for an exclusive interview. Q1: Mike, it looks like a great set results from Vertu Motors, what were the key highlights in your opinion? A1: So, the results were very strong, they beat our […]