Strong H1 PBT growth (+28%) and success in Sept (key month in H2) puts Vertu on track to beat FY expectations. We expect upgrades of c4%. Further potential depends on how the new GAP rules bed in. Commentary supports our suspicion that the VAG situation could be an opportunity, not a threat - so the general outlook remains positive. W/C performance was a stand-out in H1, aiding c/flow and investment in growth. Shares should advance on c10.7x cal16.
14 Oct 2015
Strong PBT + reassurance on market dynamics drives upgrades (c4%)
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Strong PBT + reassurance on market dynamics drives upgrades (c4%)
Vertu Motors PLC (VTU:LON) | 64.3 -0.8 (-1.8%) | Mkt Cap: 217.1m
- Published:
14 Oct 2015 -
Author:
Matthew McEachran -
Pages:
4
Strong H1 PBT growth (+28%) and success in Sept (key month in H2) puts Vertu on track to beat FY expectations. We expect upgrades of c4%. Further potential depends on how the new GAP rules bed in. Commentary supports our suspicion that the VAG situation could be an opportunity, not a threat - so the general outlook remains positive. W/C performance was a stand-out in H1, aiding c/flow and investment in growth. Shares should advance on c10.7x cal16.