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results

August 2026
Company Results

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Highlights

1

Scale Benefits

  • Stable, experienced management with capacity to manage further growth
  • Dedicated franchise based divisions with strong and growing Manufacturer partner relationships
  • Scale delivering synergies including marketing and IT
  • Growth opportunities increasingly visible to allow selective investment
2

Resilient Aftersales

  • Full sales and aftersales offering to increase capture of lifecycle vehicle spend
  • Retention focus with two million customers on the Group database and over 160,000 customers with high retention service contracts
  • Delivery of above-sector average customer experience levels backed up by extensive training and technology
  • Driving higher ROI and margin accretive revenue streams
3

Cost Optimisation

  • Disciplined cost control; controlling the controllables
  • In-house systems developed to improve process efficiency, aid decision making and reduce costs
  • Single Vertu brand gives efficiency
  • Effective marketing investment delivers key brand growth with optimised ROI
  • Tech investment includes growing, well controlled use of AI to drive conversion and efficiency in increasing number of areas
4

Maximise Returns

  • Disciplined capital allocation
  • Active portfolio management
  • Sale of underperforming businesses and surplus assets
  • Property portfolio (£327m) supported by valuation, half of portfolio unencumbered
  • Transitioning to broader Manufacturer partnerships with new entrants from China
  • 19 years of trading profitably since inception

Vertu results, reports and presentations

Date Title Results Reports Presentation Webcast
31st August 2026 Interim Results 2026 View results View presentation Watch webcast

Interim results for the six month period ended 31 August 2026

Interview with Robert commenting on the results

Interview with Robert commenting on the results

Watch the video

Highlights

  • Adjusted1 profit before tax for the Period increased 19.0% to £23.8m (H1 2026: £20.0m)
  • Profit before tax increased 24.1% to £24.2m (H1 2026: £19.5m) with non-underlying items a net income of £0.4m.
  • Record H1 revenues with like-for-like revenue growth of 4.3%
  • Battery Electric Vehicle (“BEV”) new retail sales volumes grew 125.6% against market growth of 75.9% in the Period
  • Group grew like-for-like gross profit by £10.9m with growth in all channels
  • Higher margin aftersales business continues to grow and drive profit growth aided by retention from customer service plans
  • The Group demonstrated its strong focus on cost control, with like-for-like operating expenses slightly down as a percentage of revenue in the Period despite significant cost pressures
  • The Group continues to develop its portfolio of sales outlets. The Group will open a further 11 Chinese outlets in the next nine months to augment the existing 20 Chinese brand outlets
  • Strong cash conversion of 94%, with the Group generating free cash flow of £17.5m in the Period (H1 FY2026: £0.4m)
  • Tangible net assets per share of 80.8p (28 February 2026: 75.9p) a new record level
  • New three-year banking facilities, with option to extend to five-years, announced including a £70m revolving credit facility allowing greater flexibility of use with a £50m accordion to retain capacity. Refinancing lowers future finance costs
  • Net debt2 reduced to £54.2m (31 August 2025: £78.3m) substantially below expectations reflecting strong cash conversion delivered and tight control of working capital
  • The Group continues to repurchase its own shares as part of its Share Buyback programme. To date, 21.9% of the share capital of the Group has been repurchased since the commencement of the programme in 2018. £10.2m remains of the £12m buyback announced on 5 March 2026 and the Company will purchase shares up to 85p.
  • 11% interim dividend increase to 1.0p per share (H1 FY26: 0.9p per share), payable in January 2027

Current Trading and Outlook

  • Full year results for the year ending 28 February 2027 are anticipated to be ahead of current expectations3
  • Strong start to the second half across all areas of the business: profit above prior year levels (adjusted for prior year impact of JLR cyberattack)
  • A number of pro-active measures being deployed: Expansion into new markets, such as ‘Value Cars by Vertu’, growing sales volumes in the older car segment and launch of Shariah law compliant used vehicle finance
    - Roll-out of sales executive package changes to the Group’s premium franchise outlets.
    - Changes already implemented in volume franchise dealerships have improved sales performance and colleague retention
    - Enhancement of technician remuneration to improve retention and recruitment and increase capacity in the high margin aftersales business
  • Trading during the important plate change month of September was stronger than anticipated on the back of a robust new car market in the quarter
  • Cost control will be a key priority, with the Group planning to provide further cost efficiencies through the adoption of technologies, energy saving systems and increasing use of data and sales attribution to increase the return on investment from marketing spend
  • The ZEV mandate continues to negatively impact the sector through its impact on new vehicle pricing, channel mix and vehicle supply. This pressure is likely to continue into 2030 even if the ZEV mandate is revised in the current consultation process
  • Caution on consumer demand, uncertain due to rising inflation and interest rates
  • Opportunities for the further expansion of Chinese brands and wider acquisition opportunities are being assessed against strict investment hurdle metrics
  • In October 2026, the Group received key industry awards from Autotrader: “Retailer of the Year” for the second year running and “Bikes Retailer of the Year”

    • 1 Adjusted to remove non-underlying items.
    2 Excludes lease liabilities, includes used vehicle stocking loans.
    3 According to compiled data at 13 October 2026, the current consensus of three sell-side analysts’ expectations for FY27.
    Adjusted profit before tax is £26.5m with a range of £25.5m to £27.1m.

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