Vertu Motors PLC
XBER:V2N
Vertu Motors PLC
Vertu Motors Plc engages in the distribution and retail trade of automobiles. The company is headquartered in Gateshead, Tyne And Wear and currently employs 5,751 full-time employees. The company went IPO on 2006-12-20. The firm operates franchised motor dealerships offering sale, servicing, parts and bodyshop facilities for new and used car and commercial vehicles. The firm operates many of its dealerships as Bristol Street Motors. The company also operates a range of franchise dealerships, such as Volkswagen, Land Rover, Audi, Mercedes-Benz and Jaguar. The firm offers products, such as new and used cars, vans, trucks, motorcycles, fleet vehicles, and parts and accessories. Its brands include Bristol Street Motors, Macklin Motors, Vertu Motors, Car Credit Assured, What Car? Leasing, Vertu Lease Cars, Vansdirect, The Taxi Centre and Ace Parts. The firm operates approximately 150 franchised and 4 non-franchised operations across England and Scotland.
Vertu Motors Plc engages in the distribution and retail trade of automobiles. The company is headquartered in Gateshead, Tyne And Wear and currently employs 5,751 full-time employees. The company went IPO on 2006-12-20. The firm operates franchised motor dealerships offering sale, servicing, parts and bodyshop facilities for new and used car and commercial vehicles. The firm operates many of its dealerships as Bristol Street Motors. The company also operates a range of franchise dealerships, such as Volkswagen, Land Rover, Audi, Mercedes-Benz and Jaguar. The firm offers products, such as new and used cars, vans, trucks, motorcycles, fleet vehicles, and parts and accessories. Its brands include Bristol Street Motors, Macklin Motors, Vertu Motors, Car Credit Assured, What Car? Leasing, Vertu Lease Cars, Vansdirect, The Taxi Centre and Ace Parts. The firm operates approximately 150 franchised and 4 non-franchised operations across England and Scotland.
Revenue Growth: Vertu Motors reported a revenue increase of GBP 35.4 million, driven by acquisitions, though core revenues declined due to weaker new vehicle sales and lower Motability volumes.
Profit Impacted: Adjusted operating profit and EPS decreased compared to last year, largely due to reduced new car channel profitability and Motability weakness.
Cost Control: Core operating expenses rose just 0.3% despite a GBP 10 million cost pressure from government policy, reflecting tight cost management and successful efficiency initiatives.
Cyber-Attack Disruption: A cyber-attack on Jaguar Land Rover caused a GBP 2 million profit impact in September and could reach up to GBP 5.5 million for the year, though insurance claims may offset some losses.
Strong Used & Aftersales: Used car sales and aftersales delivered stable or improved gross profit, supported by data analytics and targeted marketing events.
Market Share Gains: The company gained share across all sales channels, notably outperforming the market in battery electric vehicle (BEV) sales.
EV Market: BEV retail sales rose 82% for Vertu versus 55% market growth; government grants and more affordable models are boosting demand, but market targets remain out of reach.
Brand Strategy: Transition to a single Vertu brand increased prompted brand awareness from 11% to 19%, with further gains targeted next year.
Guidance Maintained: Excluding the JLR cyber impact, full-year profit is expected to be in line with market expectations.
