A message from Robert Forrester, CEO of Vertu Motors plc.

results

August 2015 Company Results

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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

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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