Interim results for the six months ended 31 August 2026
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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
Interim results for the six months ended 31 August 2026
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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