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Vertu Motors ( (GB:VTU) ) just unveiled an announcement.
Vertu Motors has released a trading update indicating that its adjusted profit before tax for the fiscal year ending February 2025 is expected to fall significantly below market expectations due to challenges in the new car market, including the impacts of the UK’s Zero-Emission Vehicles (ZEV) Mandate. Despite outperforming in BEV sales, the company faces margin pressures from increased fleet sales and a subdued consumer environment affecting both new and used car markets. The company has enacted cost reduction measures to offset increased costs from the Autumn Budget and is undertaking a £12 million share buyback program, the largest in its history, to return capital to shareholders and address share mispricing.
More about Vertu Motors
Vertu Motors plc is an automotive retailer operating 198 sales and aftersales outlets across the UK. The company focuses on the sale of new and used vehicles, as well as providing aftersales services. It is a major player in the UK automotive retail sector and has award-winning BEV dealerships with brands like Citroen, MINI, and VW.
YTD Price Performance: -3.55%
Average Trading Volume: 486,638
Technical Sentiment Consensus Rating: Hold
Current Market Cap: £184.4M
Find detailed analytics on VTU stock on TipRanks’ Stock Analysis page.