Vertu’s FY21E pre close update confirms that it expects to meet expectations that were upgraded on 4 February. We make no change to our forecasts, with FY21E adj. PBT broadly flat y-o-y, which we see as a very strong result, given lockdowns. Cash management has come in ahead of expectations – again. Vertu will host a teach-in on its market-leading omni-channel capabilities this Thursday. We think Vertu is well-positioned to consolidate the market and drive higher returns. Maintain 60p TP and Buy ....
01 Mar 2021
LIBERUM: Vertu Motors - Continuing to outperform
Vertu Motors PLC (VTU:LON) | 46.2 -0.1 (-0.7%) | Mkt Cap: 170.4m
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Joe Brent | Sanjay Vidyarthi | James Allen
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5 pages
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LIBERUM: Vertu Motors - Continuing to outperform
Vertu Motors PLC (VTU:LON) | 46.2 -0.1 (-0.7%) | Mkt Cap: 170.4m
- Published:
01 Mar 2021 -
Author:
Joe Brent | Sanjay Vidyarthi | James Allen -
Pages:
5 -
Vertu’s FY21E pre close update confirms that it expects to meet expectations that were upgraded on 4 February. We make no change to our forecasts, with FY21E adj. PBT broadly flat y-o-y, which we see as a very strong result, given lockdowns. Cash management has come in ahead of expectations – again. Vertu will host a teach-in on its market-leading omni-channel capabilities this Thursday. We think Vertu is well-positioned to consolidate the market and drive higher returns. Maintain 60p TP and Buy ....