Vertu has released a trading update increasing FY22 underlying PBT guidance to “no less than £70m”, up from prior guidance of “at least £65m”. This was driven by new vehicle supply being better than expected in October and November, sold at enhanced margins, and a continuation of above-normal used car margins. We increase our FY22 forecasts by 7.7% to £70.2m to reflect this. Our profit forecasts for FY23 and FY24 are unchanged, but even at the more normal levels of forecast FY23 profit, we see r ....
09 Dec 2021
Vertu Motors PLC (VTU LN) - Further earnings upgrade
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Vertu Motors PLC (VTU LN) - Further earnings upgrade
Vertu Motors PLC (VTU:LON) | 69.2 0.3 0.6% | Mkt Cap: 233.6m
- Published:
09 Dec 2021 -
Author:
Rachel Birkett, CFA -
Pages:
7
Vertu has released a trading update increasing FY22 underlying PBT guidance to “no less than £70m”, up from prior guidance of “at least £65m”. This was driven by new vehicle supply being better than expected in October and November, sold at enhanced margins, and a continuation of above-normal used car margins. We increase our FY22 forecasts by 7.7% to £70.2m to reflect this. Our profit forecasts for FY23 and FY24 are unchanged, but even at the more normal levels of forecast FY23 profit, we see r ....