14 October – interim results
An impressive set of interim results from Vertu Motors was accompanied by news that results for the full year are likely to be ahead of expectations. Revenues increased by 14.0% to £1,236.1m (2014: £1,083.9m) and adjusted profit before tax was up 27.8% to £17.0m (2014: £13.3m). Earnings per share were up 27.8% to 3.82p (2014: 2.99p) and the interim dividend was increased by 28.6% to 0.45p per share (2014: 0.35p). Net cash at the period end was £32.1m (2014: £34.4m). The shares remain a BUY.