Vertu Motors (AIM:VTU) upgraded its full-year profit guidance at its AGM on Tuesday, saying trading in the three months to 31 May had left the board confident that FY27 results would come in ahead of current market expectations.
The UK automotive retailer, the fourth largest in the country by outlet count, said like-for-like volumes grew across every channel during the period: new retail, Motability, used vehicles, and fleet and commercial. Aftersales, which the company describes as a high-margin contributor, added to year-on-year profit growth, while group margins held stable.
The consensus of three sell-side analysts had placed FY27 adjusted profit before tax at £24.5m, with a range of £23.5m to £25.1m, based on data compiled at 18 June.
Portfolio repositioning is adding to the momentum: Vertu will open its first Omoda and Jaecoo dealership on 1 July at an existing site in Burton, with a second outlet re-franchised to the two Chinese brands following on 1 October, taking its Chinese-brand representation to 15 outlets in total.
"We are confident in the resilience of the business and our ability to capture growth opportunities," said chief executive Robert Forrester, while noting the company remains "mindful of wider consumer pressures and the ongoing impact of the Zero Emission Mandate."
Vertu operates a network of 191 sales and aftersales outlets across the UK.
