PROGRESSIVE: Vertu Motors- Strong H1 and forecasts upgraded

24 minutes ago

Research on Vertu Motors PLC (VTU:LON) from Progressive Equity Research

H1 results released today confirm the positive trajectory indicated in recent newsflow. Vertu had a strong H1, achieving record revenues of £2596.5m, just ahead of H1 FY26. Adjusted PBT of £23.8m was some 19% above the prior year as Gross Profit grew across the business. The new car market is demonstrating good growth, including a rebalancing towards (higher margin) private sales. Management actions in expanding into older vehicles and continuing investment in technology are showing benefits, whilst Vertu is gaining representation with the Chinese brands. The results disclose that the full results for the year ending 28 February 2027 are now expected to be ahead of current market expectations. We have adjusted our forecasts again to reflect the positive news.

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PROGRESSIVE: Vertu Motors- Strong H1 and forecasts upgraded