24th Jun 2026 11:52
(Alliance News) - Vertu Motors PLC on Wednesday said trading in the first quarter was ahead of expectations, driven by growth across all vehicle sales channels.
The Gateshead, England-based automotive retailer said it delivered like-for-like volume growth in new retail, Motability, used vehicle, fleet and commercial vehicle sales in the three months ended May 31.
Aftersales operations also contributed to year-on-year profit growth, while group margins remained stable and overall trading performance was ahead of the prior year, the company said.
As a result, Vertu now expects full-year results for financial 2027 to be ahead of current market expectations.
According to consensus forecasts compiled on June 18, analysts expect adjusted pretax profit of GBP24.5 million for the year, with estimates ranging from GBP23.5 million to GBP25.1 million.
Chief Executive Officer Robert Forrester said: "The group has made an encouraging start to financial 2027 with full-year results now expected to be ahead of market expectations, supported by growth across all key revenue channels and continued momentum in our high-margin aftersales operations."
He added: "While we remain mindful of wider consumer pressures and the ongoing impact of the Zero Emission Mandate, we are confident in the resilience of the business and our ability to capture growth opportunities."
Vertu also highlighted ongoing changes to its dealership portfolio.
The company will open its first Omoda and Jaecoo dealership in Burton on July 1, followed by a second re-franchised outlet on October 1. Following the openings, Vertu will operate 15 sales outlets representing Chinese automotive brands.
Shares in Vertu Motors were up 2.8% at 75.04 pence in London at midday on Wednesday.
By Eva Castanedo, Alliance News reporter
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