Vertu has reported PBT growth of 15% to £31.5m in FY17 (ended Feb), which is in line with consensus. Around half of this growth was driven by acquisitions made in the year. After factoring in the dilution from the £35m equity raise at 62.5p, FD adjusted EPS increased c5% to 6.4p (cons. 6.1p) and RoE edged down to 10.8% (11.4%). Including £50m M&A spend and increased capex, there was only a £2m cash outflow resulting in £21m Y/E net cash (vs cons. £2m). The beat was mainly a function of improved ....
10 May 2017
N+1 Singer - Vertu Motor - Positive results update and guidance on free cash flow generation
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N+1 Singer - Vertu Motor - Positive results update and guidance on free cash flow generation
Vertu Motors PLC (VTU:LON) | 64.8 -0.4 (-0.9%) | Mkt Cap: 218.8m
- Published:
10 May 2017 -
Author:
Matthew McEachran -
Pages:
3
Vertu has reported PBT growth of 15% to £31.5m in FY17 (ended Feb), which is in line with consensus. Around half of this growth was driven by acquisitions made in the year. After factoring in the dilution from the £35m equity raise at 62.5p, FD adjusted EPS increased c5% to 6.4p (cons. 6.1p) and RoE edged down to 10.8% (11.4%). Including £50m M&A spend and increased capex, there was only a £2m cash outflow resulting in £21m Y/E net cash (vs cons. £2m). The beat was mainly a function of improved ....