20th Aug 2020 13:43
Vertu Motors PLC - Tyne and Wear, England-based car dealer - Trading in July continued the trends seen in June and was significantly stronger than management's expectations and original business plan for the month. Robust retail sales demand in the new and used car and van segments in July. Fleet volumes more subdued. Delivered an adjusted pretax profit of GBP7.4 million in July. Had incurred an adjusted loss before tax of GBP5.2 million in the March to June period and so has now made adjusted pretax profit of GBP2.2 million so far in the financial year that began March 1. Several growth opportunities being evaluated in terms of acquisitions. Not providing guidance for the full-year to February 2021 due to continued uncertainty.
Current stock price: 24.78 pence
Year-to-date change: down 34%
By Tapan Panchal; [email protected]
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