Friday, August 22, 2008
Vertu to perform as expected
Vertu Motors management believes the company will perform within expectations at its interim results for the half year ended August 31, despite a challenging used car sector.
The dealer group said "significant used car value depreciation" has had the effect of placing continued pressure on its used car margins.
However, Vertu said its sales volumes for new and used cars still remained ahead of targets on a like for like basis.
Vertu said: "The board believe the trading result for the six months ended August 31, 2008 will be in line with management expectations."
Vertu's interim results will be announced on October 22.
DATED: 22.08.08
FEED: AM
The dealer group said "significant used car value depreciation" has had the effect of placing continued pressure on its used car margins.
However, Vertu said its sales volumes for new and used cars still remained ahead of targets on a like for like basis.
Vertu said: "The board believe the trading result for the six months ended August 31, 2008 will be in line with management expectations."
Vertu's interim results will be announced on October 22.
DATED: 22.08.08
FEED: AM
