Pre-close trading update and notice of results

RNS Number : 2732L

Vertu Motors PLC

05 September 2019

 

5 September 2019

Vertu Motors plc

("Vertu Motors" or the "Company")

Pre-close trading update and notice of results

Vertu Motors, the automotive retailer with a network of 123 sales and aftersales outlets across the UK, is pleased to provide an update on trading before entering a closed period on 10 September 2019.

Subsequent to the trading update provided at the Annual General Meeting held on 24 July 2019, the UK Motor Retail Sector has seen a continuation of the market trends set out in that update, including increasing price stability in the general used vehicle market since July.  Consequently, the Board's current outlook for underlying profit before tax for the year to 28 February 2019 is in line with current market expectations.

The Group will announce its results for the six month period ended 31 August 2019 on 9 October 2019.

For further information please contact:

Vertu Motors plc Robert Forrester, CEO Karen Anderson, CFO	Tel: [phone] Tel: [phone]
Zeus Capital Limited Jamie Peel Andrew Jones Dominic King	Tel: [phone]
Camarco Billy Clegg Tom Huddart	Tel: [phone]

Notes to Editors

Vertu Motors is the fifth largest automotive retailer in the UK with a network of 123 sales outlets across the UK.  Its dealerships operate predominantly under the Bristol Street Motors, Vertu, Farnell and Macklin Motors brand names.

Vertu Motors was established in November 2006 with the strategy to consolidate the UK motor retail sector.  It is intended that the Group will continue to acquire motor retail operations to grow a scaled dealership group.  The Group's acquisition strategy is supplemented by a focused organic growth strategy to drive operational efficiencies through its national dealership network.  The Group currently operates 120 franchised sales outlets and 3 non-franchised sales operations from 104 locations across the UK.

Vertu's Mission Statement is to "deliver an outstanding customer motoring experience through honesty and trust".

Vertu Motors Group websites -www.vertumotors.com / www.vertucareers.com

Vertu brand websites - www.bristolstreet.co.uk / www.vertuhonda.com / www.vertutoyota.com / www.macklinmotors.co.uk / www.farnelllandrover.com / www.farnelljaguar.com / www.vertuvolkswagen.com / www.vertumercedes-benz.com

 

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