Vertu has released a trading update for the five months to 31 January showing Group trading is in line and cash generation is better than expected. The integration of Helston Garages is on track, the Group is taking market share in Aftersales, and year-end net debt (ex. leases, incl. stocking loans) is expected to be £80m-£85m versus previous guidance of £100m-£110m. FY24 underlying PBT is upgraded by 8.6% to £47.0m on an improved supply and cost outlook. We remain comfortable with our average v ....
02 Mar 2023
Vertu Motors (VTU LN) - Trading in line, cash generation ahead
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Vertu Motors (VTU LN) - Trading in line, cash generation ahead
Vertu Motors PLC (VTU:LON) | 65.5 0 0.0% | Mkt Cap: 221.1m
- Published:
02 Mar 2023 -
Author:
Carl Smith, CFA -
Pages:
9
Vertu has released a trading update for the five months to 31 January showing Group trading is in line and cash generation is better than expected. The integration of Helston Garages is on track, the Group is taking market share in Aftersales, and year-end net debt (ex. leases, incl. stocking loans) is expected to be £80m-£85m versus previous guidance of £100m-£110m. FY24 underlying PBT is upgraded by 8.6% to £47.0m on an improved supply and cost outlook. We remain comfortable with our average v ....