Vertu results, reports and presentations
| Date | Title | Results | Reports | Presentation | 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 |
| 31st August 2017 | Interim Results 2017 | View | View presentation | Watch webcast |
Strategic highlights
Strong management supported by scalable, sector-leading in-house developed systems, provides assurance of tight control of operations and compliance
Deployment of technology accelerating omni-channel retailing and increasing efficiency in transaction processing across the business to reduce cost
Consistent culture centered around Core Values ensure colleagues and customers are treated with Respect and Integrity. We want a meritocracy not mediocracy
Strong balance sheet and net cash provides resilience and firepower to invest in growth
Interim results for the 6 month period ended 31 August 2020
Interview with Robert commenting on the results
Watch the video
Analyst interview with Mike Allen, Head of Research, Zeus Capital
Watch the video
Highlights
- Group well positioned ahead of COVID period with stable experienced management, strong balance sheet and in house technological innovation strategy
- The Group executed strongly during this unprecedented period:
- Adjusted[1] profit before tax of £4.7m delivered in H1 - no exceptional items
- Proactive communication and support for Colleagues during lockdown created momentum
- Excellent cash generation with operating cashflow of £80.0m
- Strong balance sheet with net cash[2] of £36.5m and tangible net assets per share of 46.5p
- Cost reduction programme completed, delivering anticipated annual savings of £10m
- Increasing use of innovative technology capability:
- Omni-channel retail enhancements deployed with good customer uptake levels
- Automation tools implemented to improve process efficiency, aided delivery of cost reduction programme
- Balanced capital allocation approach:
- Acquisitions subject to investment hurdle rates
- Dividends anticipated to return in next financial year dependant on financial performance
(1) Adjusted to remove share based payments and amortisation of intangible assets
(2) Excludes IFRS 16 lease liabilities
Summary and Outlook
- Group has emerged strongly from the lockdown period giving increasing confidence of a strong financial outcome for the financial year as a whole:
- Record beating trading performance from 1 June
- Roll out of new technologies led to increased productivity and enhanced omni-channel retailing capabilities
- Motivated, energised colleagues
- Uncertain market conditions:
- Economy and consumer confidence
- Brexit outcome
- Potential impact of further COVID restrictions
- Strategically well placed to capitalise on opportunities:
- Strong balance sheet gives resilience and ability to fund expansion
- Stable, experienced management team
- Strong relationships with Manufacturer partners
- Scalable platform of well invested systems
- Actively considering several opportunities for Group expansion
- Board confident in the prospects for the Group
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