Research on Vertu Motors PLC (VTU:LON) from Progressive Equity Research
Vertu’s AGM trading update covering the three months to end May states that Vertu is trading ahead of market expectations and that it is seeing like for like volume growth across the Group. Aftersales continues to drive profit growth whilst group margins are stable with overall trading ahead of prior years. We have adjusted our forecasts for FY27 to reflect this encouraging news. Vertu is growing its exposure to the leading Chinese brands, with two openings, on existing Vertu sites, planned for Omoda and Jaecoo. By October, 15 of Vertu’s sales outlets will be with Chinese automotive brands.
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