Vertu Motors (AIM:VTU) – fantastic results but barely a flicker from the share price
The AIM quoted UK automotive retailer and sixth largest in the UK with a network of 116 sales and aftersales outlets issued a fantastic set of audited results for the year ended 28 February 2015.
The detailed results offer an excellent insight into the world of motor retailing and highlight the drive for an increasing amount of higher margin service revenues.
Revenue was up 23.2% to £2.1bn with like-for-like revenues up 11.4% and profit before tax up 32.9% to £21.0m.
Overall vehicle revenues grew by 24.0% in the year and amounted to 91.9% of total revenues (2014: 91.3%), whereas total aftersales revenues grew by 14.3% and amounted…
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