5th Sep 2019 13:27
(Alliance News) - Vertu Motors PLC on Thursday said underlying profit is set to meet market expectations in its financial year ending February 2020.
The automotive retailer issued a trading update in July which cautioned on its near-term outlook at that time, but expressed confidence in the medium and future term due to UK motor retail sector challenges.
In its latest update, Vertu said: "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."
Given that trends have stayed on course, Vertu's underlying pretax profit is aligned with market expectations at present.
Shares in Vertu were up 0.4% at 34.35 pence in London on Thursday afternoon.
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