Vertu Motors Share Discussion Threads

[boonboon] 13/6/2023 07:24

Good sign that they're increasing the buyback.

[mortimer7] 05/6/2023 09:10

This morning SMMT have announced the total for the number of new cars registered in the UK for May.
Total 145,204.
May 2022 was 124,394, so a 16.7% increase.

[greyingsurfer] 01/6/2023 22:11

It's another car dealer.

[descartes244238] 01/6/2023 21:05

What has Lookers got to do with Vertu???

[tomtrudgian] 01/6/2023 12:38

Thanks DaveBowler, but I could not find the Vertu article. It said Page Not Found. Can you help? What date was it published? Tom

[tomtrudgian] 01/6/2023 11:18

Thanks “Effortless221;, but how is 1 March 2022 relevant? They might as well have said that had the Helston purchase completed on 1 March 2021 (or for that matter 1 March 2023) the profits would have been higher still (or lower if 1 March 2023 respectively).

However if your intended point was that Helston was an excellent purchase, as is often the case when buying from executors of the late owners, I agree. It was also intelligently financed largely with cheaper long term mortgages.

The acquisition and disruption costs of both buying it and immediately selling the Taunton Premises inevitably affected the FY 2023 profits. Selling Taunton bare without the Peugeot franchise was also clever, as it would have competed with the Vertu Exeter Peugeot franchise.

The only elephant-in-the-room I see, for all vehicle retailers, is the future prospects for electric sales. Will owners of say 7 year old cars be driving slowly, unable to either afford a new battery or sell, and having to pay for disposal? How will this affect new electric car sales?

[davebowler] 23/5/2023 09:02

We know a better one! -

[effortless cool] 20/5/2023 20:49

Note 17 to the accounts is worth highlighting.

"If the acquisition of Helston Garages Group Limited had occurred on 1 March 2022, Group revenues would have been £387,343,000 higher and Group profit before tax would have been £18,568,000 higher".

So that means that revenue would have been 10% higher but PTP would have been 57% [edit] higher!

[eeza] 13/5/2023 21:47

Mentioned positively by Paul Scott in todays podcast. Looking to buy some himself.

[robmcelf2] 13/5/2023 11:24

Buy tip from FT/ IC for Vertu https://www.ft.com/content/e50fa338-d625-4c05-8c49-c2a2308dcdf7

[blackhorse23] 12/5/2023 12:43

Bought HARL today & waiting here for right price

[tomps2] 11/5/2023 15:46

Vertu Motors (VTU) Full Year 2023 results presentation - May 2023

Vertu Motors CEO, Robert Forrester and CFO, Karen Anderson present final results for the year ended 28 February 2023, followed by Q&A. A strong operational performance with excellent cash generation, a major acquisition of Helston Garages which has integrated well and strong current trading.

Watch the video here:

Or listen to the podcast here:

[buffalobillnuts] 10/5/2023 18:10

But they have a NAV value of 65p? Even at this years profit its a 5 P/E Ratio!!! I'm still confused!

[daneswooddynamo] 10/5/2023 18:01

The enterprise value is nearer 300m with the debt incurred via the Helston acquisition. Last years profit was a bit of a one off given the strange surge in used car values, this year a bit more normalized. But the valuations of all the quoted car dealers are very cheap

[buffalobillnuts] 10/5/2023 17:34

Can someone please explain to me the reasoning? Vertu have made £119 Million before Tax and Dividend in the last 2 years and the market cap is currently £208 Million. I'm confused,

[microscope] 10/5/2023 12:59

Must think we're fools, (or black-horses, Rodders).

Spam (and page 2 is worse).



Meanwhile back to VTU, hoping we'll get more broker upgrades and positive media coverage. More i dig into these results, better they look, the buyback a sign of confidence, and the divvy.

Didn't see a yield of nearly 4pc coming in this sector. Nice!

[blackhorse23] 10/5/2023 11:01

Sold here yesterday & Bought GATC which looks rewarding

[microscope] 10/5/2023 07:53

Separate announcement of a buyback programme too. Market has liked that in the past. Yes Jaf, also liked the March/April commentary. April particularly as there were five Sundays in it this year, so very reassuring that the month was encouraging.Perhaps the acquisition and sector trends have passed trader blackhorse by (but then he or she admitted to selling out the other day, at just the wrong time it turns out, again....).

[blackhorse23] 10/5/2023 07:51

Yes cost of debt is very expensive at current rates , that could effect market

[daneswooddynamo] 10/5/2023 07:45

Significant debt as they made a 100m plus acquisition!

[ironstorm] 10/5/2023 07:40

Looks well positioned the industry is at the forefront of change, volumes holding up, recession being avoided.