Vertu results, reports and presentations
| Date | Title | Results | Reports | Presentation | Webcast |
|---|---|---|---|---|---|
| 31st August 2015 | Interim Results 2015 | Download |
Unaudited interim results for the six months ended 31st August 2015
Interview with Robert commenting on the results
Watch the video
Finanical Highlights
- Revenues increased by 14.0% to £1,236.1m (2014 H1 : £1,083.9m)
- Record profit before tax up 28.1% to £16.4m (2014 H1 : £12.8m)
- Adjusted(1) profit before tax up 27.8% to £17.0m (2014 H1: £13.3m)
- Period end net cash of £32.1m (2014 H1 : £34.4m)
- Very strong cash generated from operations of £37.6m (2014 H1 : £15.9m)
- Earnings per share up 27.8% to 3.82p (2014 H1 : 2.99p)
- Interim dividend up 28.6% to 0.45p per share (2014: 0.35p per share) to be paid in January 2016
(1) Adjusted for exceptional charges, amortisation of intangible assets and share based payments charge.
(2) Core: Dealerships that have traded for two full consecutive financial years.
Operational Highlights
- Growth strategy progressed with 119 sales outlets in the Group portfolio: greater premium mix
- Record trading performance driven by improvement in recently acquired businesses, existing outlets and growth in higher margin service area
- Total car and van volumes up by 10%
- Service revenues up 6.2% in the core(2) Group
- Service margins strengthened, up to 76.9% from 75.8%
- Strong performance in fleet and commercial sales, with growth in like-for-like margins leading to a strengthening in profitability
- Like-for-like used vehicle volumes increased 4.2%, the 8th consecutive half year of growth
- Operating expenses as a percentage of revenues continues to fall from 9.4% to 9.2%
Outlook Highlights
- Continued strong trading performance in September with results ahead of last year
- The Board now anticipates full year results will be ahead of its expectations
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