Vertu Motors plc (AIM:VTU) – strong year, outlook more challenging but well placed to benefit
The AIM quoted automotive retailer with a network of 117 sales and aftersales outlets across the UK issued a positive trading update ahead of its preliminary results for the year ended 28 February 2015. However, while performance for the year is expected to be in line with current market expectations, anticipating record revenues and profits in the period, they anticipate a more challenging 2015.
In the five months ended 31 January 2015 the Group saw continued volume and revenue growth with total Group revenues, including acquisitions, up by 17.8% and like-for-like vehicle sales volumes grew up 7.7%
Management commented how the year ended 28 February 2015, and 2014 calendar year were historically speaking very robust by way of sales volumes. According to the SMMT, 2,476,435 new cars were registered in the UK in 2014, the most since 2004 and…
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