Annual results for the year ended 28 February 2026
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1
Scale Benefits
- Stable, experienced management with capacity to manage further growth; augmented by two new MD's
- Dedicated and aligned scaled Manufacturer partner relationships with widest number of partners in sector
- Synergy delivery including marketing and IT
- Significant in-house tech capability
- Financial and operational capacity for further acquisitions and consolidation
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 service contracts
- Delivery of above sector customer experience levels backed up by extensive training and technology
- Driving higher ROI and margin accretive revenue streams
3
Cost Optimisation
- In-house systems developed to improve process efficiency, aid decision making and reduce costs
- Single Vertu brand now implemented: 19% brand awareness up in Year from 14%
- Effective marketing investment delivers key brand growth with optimised ROI
- Tech investment includes growing, well controlled use of AI
4
Maximise Returns
- Disciplined capital allocation
- Active portfolio management
- Sale of underperforming businesses and surplus assets - cash generation £6.2m in Year
- Property portfolio (£327m) stated conservatively
- Transitioning to broader Manufacturer partnerships with new entrants from China
- 19 years of trading profitability since inception
Vertu results, reports and presentations
Annual results for the year ended 28 February 2026
Interview with Robert commenting on the results
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Highlights
- Adjusted1 profit before tax of £24.5m ahead of market expectations2 delivered despite weak new vehicle markets due to the Government's Zero Emission Mandate (ZEV) and related margin pressure.
- £3.4m of insurance proceeds recognised as other income in FY26 in underlying earnings offsetting losses from the JLR cyber-attack of £3.9m.
- Aftersales delivered strong growth, with like‑for‑like revenue and gross profit growth, now generating over 46% of Group gross profit and underpinning earnings resilience.
- Modest used car volume growth, with pricing stability and stable gross profit per unit.
- Disciplined cost control, with Core Group3 operating costs up just 1.1% year‑on‑year despite wage inflation, and a further £10m cost efficiency programme delivered to aid FY27 results.
- Robust cash generation, with £30.7m of free cash flow, bolstering an already strong balance sheet.
- Net debt4 of £61.3m as at 28 February 2026 (FY25: Net debt: £66.6m).
- Capital returns maintained, with final dividend of 1.15p per share recommended holding full‑year dividend flat at 2.05p per share (FY25: 2.05p) and £10.7m returned through share buybacks during the year. A total of £46.5m expended on the repurchase of over 21% of the Group's issued shares since the programmes began in FY18. Further £12m share buyback programme announced in March.
- Non-underlying costs of £5.1m arose as a result of dealership closures and restructuring costs to reduce the cost base of the Group. This is offset by £0.9m of non-underlying income relating to profit on disposal of surplus freehold properties and disposal of businesses.
- Surplus freehold property disposals generated cash proceeds of £5.1m and were sold at an aggregate £0.6m premium to book value in FY26. FY27 has already seen surplus property disposals of £1.5m at a premium to book value of £0.5m. Glasgow disposal, announced in Pre-close Trading update as expected to complete in March is delayed.
- Net tangible assets per share of 75.9p (FY25: 72.9p)
- Group awarded 2025 Retailer of the Year and Customer Experience award by Autotrader.
- Programme to enhance portfolio with new Chinese entrant brands implemented and set to continue: Jaecoo, Omoda, Lepas, Chery and Leapmotor to be added to.