Vertu has delivered a strong trading performance in the final 5 months of the year (to Feb). Notable areas include Used and Aftersales, and its performance in New is also impressive. This results in a beat vs market consensus (which we believe is at least 5%). A strong order book for March (+11.6% LFL) and a positive update on integrating recent acquisitions means this upgrade should flow through to FY17/FY18 estimates. Vertu reiterates our opinion that market conditions are favourable and highl ....
08 Mar 2016
Strong trading, upgrades, acquisition momentum and new equity
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Strong trading, upgrades, acquisition momentum and new equity
Vertu Motors PLC (VTU:LON) | 67.8 0 0.0% | Mkt Cap: 229.1m
- Published:
08 Mar 2016 -
Author:
Matthew McEachran -
Pages:
4
Vertu has delivered a strong trading performance in the final 5 months of the year (to Feb). Notable areas include Used and Aftersales, and its performance in New is also impressive. This results in a beat vs market consensus (which we believe is at least 5%). A strong order book for March (+11.6% LFL) and a positive update on integrating recent acquisitions means this upgrade should flow through to FY17/FY18 estimates. Vertu reiterates our opinion that market conditions are favourable and highl ....