Last checked at 21 Aug 2008 07:00
21 August 2008
Vertu Motors plc ("Vertu" or the "Group")
Pre-close Trading Update and Notice of Results
Vertu Motors plc, the UK's 10th largest motor retail group, issues the following trading update in advance of its interim results for the half year ended 31 August 2008.
The Group's sales volumes in both new and used cars, remain ahead of prior period levels on a like for like basis, however market conditions in the UK in recent months have become increasingly challenging, particularly in the used car sector. Significant used car value depreciation has had the effect of placing continued pressure on used car margins.
The Board believe that the trading result for the six months ended 31 August 2008 will be in line with management expectations.
The interim results for the six months ended 31 August 2008 will be announced on Wednesday 22 October 2008 and a meeting for analysts will be held at 9:30am on the same day at the offices of Financial Dynamics, 26 Southampton Buildings, London, WC2A 1PB.
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For further information please contact:
| Vertu Motors plc Robert Forrester, CEO Karen Anderson, FD | Tel: 0191 206 4617 Tel: 0191 298 6514 |
| Brewin Dolphin Investment Banking Andrew Kitchingman | Tel: 0845 270 8613 |
| Financial Dynamics Caroline Stewart/Edward Westropp | Tel: 020 7831 3113 |