Interim results for the six months ended 31 August 2022 Available Now
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View resultsStrategic highlights
Enhancements to the Group's technological capabilities continue to be piloted and rolled out. Transparent, unified part exchange valuation capability is in place online and offline. Customer experience in service is being enhanced by the rollout of digital self-service check-in capability.
Successful growth exhibited via the continued roll-out of multi-franchise dealerships. Further progress in growth shown in developing the new West of Scotland Toyota business, and the acquisition of Wiper Blades Limited, an online retailer.
Strong people focus, with the delivery of enhanced benefits to colleagues, enrichment of training opportunities and improved engagement through colleague forums. The Group has continued to record excellent scores in quarterly colleague satisfaction surveys.
Enhanced brand awareness through media presence and the commercial partnerships of the Group's three trading brands: Bristol Street Motors, Vertu Motors and Macklin Motors.
Vertu results, reports and presentations
| Date | Title | Results | Reports | Presentation | Webcast |
|---|---|---|---|---|---|
| 31st August 2022 | Interim Results 2022 | View results | View | View presentation | Watch webcast |
| 28th February 2022 | Annual Results 2022 | View results | View | View presentation | Watch webcast |
| 31st August 2021 | Interim Results 2021 | View results | View | View presentation | Watch webcast |
| 28th February 2021 | Annual Results 2021 | View results | View | View presentation | Watch webcast |
| 31st August 2020 | Interim Results 2020 | View results | View | View presentation | Watch webcast |
| 29th February 2020 | Annual Results 2020 | View results | View | View presentation | Watch webcast |
| 31st August 2019 | Interim Results 2019 | View results | View | View presentation | Watch webcast |
| 28th February 2019 | Annual Results 2019 | View results | View | View presentation | Watch webcast |
| 31st August 2018 | Interim Results 2018 | View results | View | View presentation | Watch webcast |
| 28th February 2018 | Annual Results 2018 | View results | View | View presentation | Watch webcast |
Unaudited Rnterim Results for the six month period ended 31 August 2022
Interview with Robert commenting on the results
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Analyst interview with Mike Allen, Head of Research, Zeus Capital
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Highlights
- Delivery of strategy to grow scaled franchised dealership group with commencement of operations of Toyota in the West of Scotland
- Revenues grew 3.9% and the Group is now anticipated to be the fourth largest automotive retailer in the UK by revenues
- Market share growth in all new vehicle channels with 6% new van market share achieved
- Adjusted[1] profit before tax of £28.2m (H1 FY22: £51.8m), on revenues of £2.0bn
- Gross margin of 11.2% (H1 FY22: 11.6%) reflects continued strong pricing disciplines in all areas
- Free Cash Flow of £23.2m in the Period and Net Cash[2] of £17.8m (28 February 2022: £16.2m)
- Net tangible assets per share of 71.2p (28 February 2022: 66.8p) reflecting strong asset base and cashflow generation
- 10.5m shares (representing 2.9% of share capital in issue on 1 March 2022) repurchased at a cost of £5.9m since 1 March 2022
- Increased interim dividend of 0.70p per share declared, up from 0.65p in H1 FY22, payable in January 2023
[1] Adjusted to remove share-based payments charge and amortisation of intangible assets [2] Excludes lease liabilities, includes used vehicle stocking loans