Vertu has delivered another earnings upgrade driven by strong ongoing used car margins, in what is effectively an early delivery of the H1 pre-close update. Dividend payments will resume, and a share buyback programme has also recommenced. The shares look too cheap to us even on 2023/24 EPS backed with a current forecast yield of 3.6% and trading below net tangible assets per share of 50.2p. We believe this update should be taken well with Vertu very well positioned to capitalise on the inevitab ....
20 Aug 2021
Vertu Motors PLC (VTU LN) - Capital allocation specialists
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Vertu Motors PLC (VTU LN) - Capital allocation specialists
Vertu Motors PLC (VTU:LON) | 67.8 0.5 1.0% | Mkt Cap: 229.1m
- Published:
20 Aug 2021 -
Author:
Rachel Birkett, CFA -
Pages:
7
Vertu has delivered another earnings upgrade driven by strong ongoing used car margins, in what is effectively an early delivery of the H1 pre-close update. Dividend payments will resume, and a share buyback programme has also recommenced. The shares look too cheap to us even on 2023/24 EPS backed with a current forecast yield of 3.6% and trading below net tangible assets per share of 50.2p. We believe this update should be taken well with Vertu very well positioned to capitalise on the inevitab ....