Vertu results, reports and presentations
| Date | Title | Results | Reports | Presentation | Webcast | 31st August 2025 | Interim Results 2025 | View results | View presentation | Watch webcast |
|---|
Interim results for the six month period ended 31 August 2025
Interview with Robert commenting on the results
Watch the video
Highlights
- Record H1 revenues, bolstered by the acquisition of the Burrows group in October 2024.
- Group grew total market share in all new vehicle channels (retail, fleet and commercial vehicles) to 4.5% (H1 FY25: 4.4%).
- Group like-for-like retail sales volumes of Battery Electric Vehicles ("BEV") grew 82.4% compared to UK BEV retail sales growth of 55.2%, representing major market share gains in the growing BEV segment - affordability of BEV vehicles has improved markedly.
- The UK new car market remains subdued against a very low base, facing continued pressure from the UK Government's Zero Emission Vehicle ("ZEV") mandate and general consumer environment. Pre-registration activity appears elevated.
- Growth has been delivered in the Group's high margin aftersales business due to improved pricing and benefits of initiatives to drive retention and returns. Like-for-like gross profit up £4.0m.
- Like-for-like increase of £0.6m in used car gross profit generation; good performance given supply constraints.
- Reduction in like-for-like gross profits of £4.4m and £1.2m respectively in the new retail (including Motability) and fleet and commercial channels on lower volumes. The Motability market showed anticipated weakness.
- The Group continued its strong focus on cost control with like-for-like operating expenses up just 0.3% on last year in the Period despite significant inflationary pressures.
- Adjusted profit before tax for the Period of £20.0m (H1 2025: £22.1m) was delivered. As expected, this was below the prior year, reflecting the relative strength of comparative profits in H1 FY25.
- The Group continues to develop its portfolio of sales outlets with the announcement of the opening of three new BYD sales outlets by 1 November, bringing the total number of BYD outlets operated by the Group to five.
- Sale of three surplus properties for £3.3m cash proceeds, 10.7% above book value.
- Tangible net assets per share of 76.1p (28 February 2025: 72.9p)
- 9.4m shares repurchased at a cost of £5.6m in the Period: buyback continues with £7.0m of the current £12.0m authority expended to 30 September 2025. Since share buyback programmes began in July 2017, over £42m has been returned to shareholders through the repurchase of shares, reducing the Group's shares in issue by over 19%.
- Interim dividend maintained at 0.9p per share, payable in January 2026, reflecting the strength of the Group's balance sheet and Board confidence in the Group's prospects.