If you would like to ask our webinar guest speakers from Blue Whale Growth Fund, Taseko Mines, Kavango Resources and CQS Natural Resources fund a question please submit them here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
Two days without any buy backs - very odd so something is going on....
This doesn't make sense. The decision to keep the furlough money was known some while ago. Why would it have such a large effect at a much later point? It's not something that is affecting other motor retailers. I hope someone doesn't know something and is doing some insider trading.
Murky news re furlough clearly casting a long shadow.
Does anyone know why this has fallen almost 6% in one day?
They have to test supply , if non comes forward i think it will rise .
..... breaking out and going to 80p. This market is horrendous at the moment.
Especially around London with the huge expansion of the low emission zone !
Fair points, guys, and well presented. Brian might want to take a leaf out of your books ;-)
He's absolutely right. Many businesses were forced by law to close, and even the exceptional level of tax-payer support through the furlough and business rates relief schemes could not mitigate all the effects of that. Many businesses, including Vertu, suspended dividends, and it is only appropriate that they restart now. I can see the case for the likes of Tesco, Sainsbury, repaying Govt grants, as they were open all the time. But there is no case at all for any dealership to do so. They simply took what was offered, and had no say at all in when they could reopen, and will have no say, either, about any future closures that could be imposed. Management should be congratulated for adapting so well, and growing the business, which will also lead to higher payroll and other tax contributions in the future.
As Robert Forrester has said, when asked if he was going to repay the furlough monies..."No, the Government forced me to shut my business....."
Quite right to.
Does he own this too? Just DMOR, as you suggested ;-)
https://cardealermagazine.co.uk/publish/vertu-motors-attacked-over-dividend-payments-while-keeping-furlough-money/237473
Doesn't alter the facts.
And there's no need to shout, old boy.
And Guess who owns the Daily Mail!!!????
That's right Alex Chesterman, who owns 30% of Cazoo. DO YOUR OWN RESEARCH!
Car dealer Vertu Motors has been slammed for retaining furlough cash despite plans to pay dividends to shareholders.
The firm, whose brands include Bristol Street Motors, last week declared a 0.65p per share payout after profits soared due to pent-up demand fuelling rises in car prices. Vertu claimed £400,000 this financial year and £28million last, which it has retained. One senior industry executive described the dividend decision as 'just not acceptable'.
https://www.dailymail.co.uk/money/markets/article-10099263/Vertu-Motors-slammed-retaining-furlough-cash-dividend-plan.html
Book valuation is 76.3p
https://app.stockopedia.com/share-prices/vertu-motors-LON:VTU
M&A kicking in, in this sector , papers at the weekend could be full of vertu value , re rating to £1 on speculation of a bid or merging ,
DYOR , theses in my view are undervalued at 80p
Any move above 60p and this is off to the races
The profit forecast for the year is £65 million. That seems to be very conservative. The market value of the company is only £200m. This is going to be on 2 to 3 times earnings which seems a bit mean.
Half year results are announced tomorrow at 7:00 BST. It was mentioned at the last up date that they were hoping to start Divi's from these results. It will all be revealed tomorrow.
"The Board remains cautiously optimistic and is upgrading the estimate for profit before tax for the current financial year to be in the range of £50m to £55m (previously £40m to £45m). As a result of the strong performance seen in the financial year to date, the Board intends to re-establish the payment of dividends to shareholders upon finalisation of the interim results. The Board remains very confident in the prospects for the Group, which is strategically well placed to capitalise on the changes and opportunities in the UK motor retail sector."
Normally Ex-Div is early December and paid middle of January.
Keep up.
any one know the next ex dividend date
The company sell new cars as well, took delivery of several new staff vehicles this week all had vertu stickers on them.
GLA
Not sure now.
Once supply chain sorted, can see used car prices plummeting
I think the Vertu share price is simply following the market at the moment. The way Vertu is handling the share back is good. They should buy more.
Reckon it'll retrace to 50p for another buy
Starting to motor on up.
GLA