Last checked at 1 Sep 2014 07:00
1 September 2014
Vertu Motors plc ("Vertu" or the "Group")
Pre Close Trading Update
Trading continues in line with market expectations
Vertu Motors plc, the automotive retailer with a network of 111 sales and aftersales outlets across the UK, announces the following update ahead of its Half Year results for the six month period ended 31 August 2014.
Trading Update
Since the Trading Update provided at the Annual General Meeting held on 24 July 2014, the Group has continued to trade in line with market expectations.
On 27 August 2014 the Group opened a new Fiat Brand Centre in a recently acquired leasehold property, representing Fiat, Alfa Romeo and Jeep in Newcastle.
The Board is confident that further progress will be made during the remainder of the financial year.
The Group will announce its Half Year results on 15 October 2014.
For further information please contact:
Vertu Motors plc
Robert Forrester, CEO Tel: 0191 491 2111
Michael Sherwin, FD Tel: 0191 491 2114
Panmure Gordon (UK) Limited
Hugh Morgan / Duncan Monteith Tel: 020 7886 2500
Liberum Capital Limited
Peter Tracey / Richard Crawley / Jamie Richards Tel: 020 3100 2000
Camarco
Billy Clegg / Georgia Mann Tel: 020 3757 4980
Notes to Editors
Vertu Motors is the sixth largest automotive retailer in the UK with a network of 111 sales and aftersales outlets across the UK. Its dealerships operate predominantly under the Bristol Street Motors, Vertu, Farnell Land Rover and Macklin Motors brand names.
Vertu Motors was established in November 2006 with the strategy to consolidate the UK motor retail sector. It is intended that the Group will continue to acquire motor retail operations to grow a scaled dealership group. The Group's acquisition strategy is supplemented by a focused organic growth strategy to drive operational efficiencies through its national dealership network. The Group currently operates 109 franchised sales outlets and 2 non-franchised sales operations from 89 locations across the UK.
Vertu Motors Group websites - www.vertumotors.com / www.vertucareers.com
Vertu Motors brand websites - www.bristolstreet.co.uk / www.vertuhonda.com / www.macklinmotors.co.uk / www.farnelllandrover.com / www.farnelljaguar.com / www.vertuvolkswagen.com