Vertu Motors (AIM:VTU) – positive pre-close update, more acquisitions to come!
The AIM quoted automotive retailer announced a positive trading update the five months ended 31 July 2015 ahead of its Half Year results for the six months ending 31 August 2015 which are due out on 14th October. The business appears to be performing well and valuation seemingly quite modest
In the five months ended 31 July 2015 like-for-like Group revenues rose 5% with the all-important service revenues up 12.9% overall and 6.4% on a like-for-like basis.
There was plenty of information on the vehicle market in the statement
During the Period, the UK new car market recorded a 1.5% growth in private registrations for the franchises represented by the Group. Overall, UK private registrations rose 2.9% in the Period. The Group’s like-for-like…
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