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Vertu Motors really loves prospects in the South West of England

After being a bit ill a couple of years ago, the DVLA was absolutely correct to ask me to return my driving licence. After all, it is not smart to drive a car if neither of your eyes has good enough vision any more. One small advantage is that I will never need to deal with car dealers or related again. This does not mean however I do not follow the sector, which brings me to today’s comment from Vertu Motors (VTU).

NEWSFLOW

Vertu Motors (#VTU) – agreement to acquire “predominantly premium” automotive retailer Helston Garages for £120.1m EV

NEWSFLOW

Vertu Motors (#VTU) – acquisition of BMW Motorrad outlets in Yorkshire for estimated £4.2m

NEWSFLOW

Vertu Motors (#VTU) – H1 adj. EPS down to 6.5p, DPS up to 0.7p, notes cost pressures but still strong sales performance

NEWSFLOW

Vertu Motors (#VTU) – strong H1, though notes likely rising energy costs and inflation impact on consumers

NEWSFLOW

Vertu Motors (#VTU) – recent significant decline in used car volumes, but strong margins

NEWSFLOW

Vertu Motors (#VTU) – further profit upgrade, admits has benefitted from “highly favourable trading conditions”

NEWSFLOW

Vertu Motors (#VTU) – further profit upgrade, notes supply risks

NEWSFLOW

Vertu Motors (#VTU) – now anticipates H1 adj. PBT “no less than £40m”

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Vertu Motors hopes for higher profits...but always be cautious about cars

Back in March HERE I wrote why I thought ‘what a strange company is Pendragon’ (PDG), but if you wanted to buy a car dealer then ‘look at a peer such as Vertu Motors (VTU) which is trading below book value and, via okay profitability, at a low double digit multiple’. Since then Pendragon shares are little changed but Vertu Motors shares are up well over 20% – and that includes a striking announcement today.