Vertu has delivered FY results marginally ahead of expectations, especially on the cashflow front after strong w/c performance, although some of the dynamics there might be difficult to sustain. Current trading provides a good barometer of where motor retailers are in the cycle. Flat LFL profits in New suggest we are now mid-cycle in this the lowest margin division, whereas strong growth in used and high margin aftersales highlight the lagged effect into these important divisions. This might hel ....
11 May 2016
Ongoing strategic delivery and growth in current trading
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Ongoing strategic delivery and growth in current trading
Vertu Motors PLC (VTU:LON) | 64.8 -0.4 (-0.9%) | Mkt Cap: 218.8m
- Published:
11 May 2016 -
Author:
Matthew McEachran -
Pages:
4
Vertu has delivered FY results marginally ahead of expectations, especially on the cashflow front after strong w/c performance, although some of the dynamics there might be difficult to sustain. Current trading provides a good barometer of where motor retailers are in the cycle. Flat LFL profits in New suggest we are now mid-cycle in this the lowest margin division, whereas strong growth in used and high margin aftersales highlight the lagged effect into these important divisions. This might hel ....