Vertu has released a trading update for the five months to 31 January in which it expects FY22 underlying PBT to be not less than £75m. We upgrade our FY22 forecasts by 6.8% to reflect this. With expansion with Toyota previously flagged, we also upgrade our revenue forecasts for FY23 and expect higher margins to continue due to ongoing supply constraints, offset in part by cost headwinds. FY23E PBT forecasts increase by 17.6% to £35.4m as a result. We continue to believe Vertu remains well posit ....
02 Mar 2022
Vertu Motors plc (VTU LN) - Upgrades to FY22 & FY23
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Vertu Motors plc (VTU LN) - Upgrades to FY22 & FY23
Vertu Motors PLC (VTU:LON) | 69.0 1.1 2.4% | Mkt Cap: 232.9m
- Published:
02 Mar 2022 -
Author:
Rachel Birkett, CFA -
Pages:
8
Vertu has released a trading update for the five months to 31 January in which it expects FY22 underlying PBT to be not less than £75m. We upgrade our FY22 forecasts by 6.8% to reflect this. With expansion with Toyota previously flagged, we also upgrade our revenue forecasts for FY23 and expect higher margins to continue due to ongoing supply constraints, offset in part by cost headwinds. FY23E PBT forecasts increase by 17.6% to £35.4m as a result. We continue to believe Vertu remains well posit ....