Vertu’s strong defensive qualities have been clearly demonstrated during H118. A falling new car market and used car margin pressures have been absorbed, yet underlying PBT has again moved ahead. While we have cut our immediate profit estimates to reflect the cautious trading climate, we believe that the continued investment in upgrading facilities and the future acquisition potential is not recognised in the current share price.
18 Oct 2017
- Defensive qualities shine through
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- Defensive qualities shine through
Vertu Motors PLC (VTU:LON) | 64.8 -0.4 (-0.9%) | Mkt Cap: 218.8m
- Published:
18 Oct 2017 -
Author:
Nigel Harrison -
Pages:
8
Vertu’s strong defensive qualities have been clearly demonstrated during H118. A falling new car market and used car margin pressures have been absorbed, yet underlying PBT has again moved ahead. While we have cut our immediate profit estimates to reflect the cautious trading climate, we believe that the continued investment in upgrading facilities and the future acquisition potential is not recognised in the current share price.