Thursday, May 15, 2008
Vertu Motors defies economic gloom
Dealer group reports that it has outperformed the market
Vertu Motors has defied the economic downturn to comfortably outperform the market since it began trading on 27 March 2007.
The group last week reported operating profit before exceptional costs of £3.1m on turnover of £677.2m for the 16 month period since its incorporation to 29 February 2008.
The result was achieved despite not including the key trading month of March 2007.
Pre-tax profit before exceptionals reached £1.8m.
Chief executive Robert Forrester said: “The group has made rapid progress towards its goals of acquiring motor retail businesses and delivering organic profit improvements from these businesses.”
Bristol Street Motors
Vertu was founded in November 2006 but existed as a cash shell until it bought the 35-site Bristol Street Motors Group at the end of March last year and began trading under the Bristol Street banner.
DATED: 15.05.08
FEED: MT
Vertu Motors has defied the economic downturn to comfortably outperform the market since it began trading on 27 March 2007.
The group last week reported operating profit before exceptional costs of £3.1m on turnover of £677.2m for the 16 month period since its incorporation to 29 February 2008.
The result was achieved despite not including the key trading month of March 2007.
Pre-tax profit before exceptionals reached £1.8m.
Chief executive Robert Forrester said: “The group has made rapid progress towards its goals of acquiring motor retail businesses and delivering organic profit improvements from these businesses.”
Bristol Street Motors
Vertu was founded in November 2006 but existed as a cash shell until it bought the 35-site Bristol Street Motors Group at the end of March last year and began trading under the Bristol Street banner.
DATED: 15.05.08
FEED: MT
