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VTU Vertu Motors Plc

0.20 (0.23%)
Last Updated: 14:16:42
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Vertu Motors Plc LSE:VTU London Ordinary Share GB00B1GK4645 ORD 10P
  Price Change % Change Share Price Shares Traded Last Trade
  0.20 0.23% 85.50 786,318 14:16:42
Bid Price Offer Price High Price Low Price Open Price
85.10 85.60 86.30 85.10 85.50
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Motor Veh Dealer (used Only) 4.01B 25.53M 0.0749 11.47 292.73M
Last Trade Time Trade Type Trade Size Trade Price Currency
14:15:48 O 75 85.292 GBX

Vertu Motors (VTU) Latest News (1)

Vertu Motors (VTU) Discussions and Chat

Vertu Motors Forums and Chat

Date Time Title Posts
01/12/202309:56Vertu Motors (AIM:VTU)2,836
29/11/202308:26Heddin 1
13/11/201413:47Vertu Motors (VTU) UPDATE-
21/12/201211:36vertu motors shares up 5% today,why?1

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Vertu Motors (VTU) Most Recent Trades

Trade Time Trade Price Trade Size Trade Value Trade Type

Vertu Motors (VTU) Top Chat Posts

Top Posts
Posted at 29/11/2023 10:54 by c_k
They are in no rush, I could see it taking 6 months to get to 20% if the shares are available. They have picked up another 2% in the last 20 days without moving the share price. They will keep mopping up at this level. I am sure there will be sellers while the second hand car market values drop.
Posted at 29/11/2023 09:46 by c_k
I think Cinch will continue to buy up to 20% of the business over time so they do not push the share price up. Their previous tactic in the sector is to have a stake which allows them to have a say in who buys the company and make a profit. I can't see much downside here while Cinch are buying but there are reports of second hand prices reducing and consumer demand dropping which I think will put pressure on profits asVertu take a hit on their stock vehicles.
Posted at 09/11/2023 09:17 by davebowler
Expanding South West presence

Last week Vertu announced a complementary bolt-on acquisition of four sales outlets in the South West of England for an estimated cash consideration of £6.2m, further expanding its presence in the region. The Group is continuing its strategy of adding scale and strengthening brand partnerships. Today we make FY24 balance sheet and cash flow adjustments for the acquisition, reduce FY24 adjusted PBT by 1.5% due to the timing of the deal and acquisition costs, and add a small upgrade to adjusted PBT for FY25 and FY26.

¨ Target business: Rowes Garage Limited operates three Honda dealerships in Plymouth, Plymstock and Truro, as well as a Suzuki franchised outlet in Plymouth that Vertu intends to refranchise. Rowes is a growing retailer and one of the UK’s most successful Honda dealers that generated revenue of £30.2m and an operating profit of £745k in the year to 31 December 2022, albeit this was in a period of strong margins across the industry. With the deal completing on 31 October, Rowes will be consolidated for four months of Vertu’s FY24 period and is expected to contribute a small operating loss due to the seasonality of vehicle sales (November to February will not include either the March or September plate-change months). In the first full year of ownership, the deal is expected to be earnings enhancing.

¨ Strategic fit: The four acquired sites complement the 30 sales outlets in the South West of England that were acquired in the Helston deal in December 2022, also adding presence in Plymouth for the first time. Vertu is continuing to grow its network and fill in gaps in its national coverage, which we believe should create further scale benefits. The addition of three Honda outlets takes the Group’s total to 17. Vertu was already Honda’s largest UK retail partner and last week’s acquisition further strengthens this relationship. Finally, Rowes’ freehold property of £3.6m and the low amount of acquired goodwill (c. £0.9m) means that we still expect Vertu to have strong tangible asset backing following the deal.

¨ Forecasts: We incorporate the estimated balance sheet and cash flow impact of the deal in our FY24 forecasts, including a £6.2m consideration cash outflow and offsetting entries for freehold property (£3.6m), goodwill (£0.9m) and other net assets (£1.7m) including inventory. We also add £0.5m of capex for site refurbishment. Closing forecast FY24 net debt (ex. leases, incl. stocking loans) is now £87.0m (£80.0m previously), which represents only c. 0.9x FY24 EBITDA. For the P&L, we add £13m to revenue and a £0.7m operating loss to FY24 (which includes transaction costs), then forecast operating profits of £0.4m in FY25 and £0.7m in FY26 once integrated. Changes to Zeus forecasts are summarised on page 2.

¨ Valuation: We continue to think Vertu is materially undervalued given its strong track record, asset backing, and growing earnings. Using Zeus forecasts, Vertu trades on a P/E of only 8.0x FY24 and yields 3.1%. We forecast closing FY24 tangible net assets per share of 73.1p, growing to 90.2p by FY26, which should provide a floor to the share price because it effectively values the business on a break-up basis. In our view, Vertu’s value has been highlighted by recent sector takeover activity. Lookers was acquired at 9.3x FY23 P/E and Pendragon’s shareholders approved a deal to dispose of the UK motor retail and leasing businesses for £367m (c. 9.0x FY23 P/E). 9.0x FY24 P/E would value Vertu at 88.4p per share, but we think the Group is worth more than this. Our average (DCF, long-run P/E, SOTP) valuation estimate is 108.0p per share, indicating 37.8% potential upside to last night’s closing price.
Posted at 13/12/2022 16:53 by kenmitch
Effortless Cool.

No I don’t hold CFXI and agree that if a Company can afford to buy back 75% of their shares then that’s a rare example where buybacks worked well for investors. Next too have bought back more than half their shares and that’s likely helped the share price too. I know nothing about CFXI and therefore whether the huge amount they must have spent on buybacks could have been invested equally or more successfully in the business.

I don’t dispute that occasionally buybacks are effective with Next an example. So was Riverstone Energy Investment Trust when announcing a big buyback when the share price was at a crazy 65% discount to NAV. I actually bought Riverstone on that news and the share price went up fast.

But these are exceptions and imo the vast majority of buybacks, often done regardless of whether or not the share price looks cheap and where share price performance subsequently disappoints are a waste of money.

I agree about Motor sector and hold LOOK and VTU. The so called near certain bids for both haven’t come though!
Posted at 10/12/2022 11:25 by kenmitch

Isn’t it those so keen on buybacks who don’t understand them?

After all it’s the consequences of those buybacks that matter. If the share price subsequently does well we cannot know whether that would have happened anyway.

And there’s a wealth of evidence where buybacks were a terrible waste of money and NOT the supposed “reward to shareholders” that buyback fans seem to think they are!

e.g Whitbread spending the entire near £3 billion they received from their sale of Costa “returning that cash to shareholders” but where the share price fell at once and has never got close to those buyback prices since.

Or Aberdeen who have been buying back for years all the way down from starting at £5 to just 140p until recently.

Or detailed Morgan Stanley research showing that Companies buying back subsequently underperformed Companies in the same sector not buying back.

Or Investment Trusts buying back to reduce the discount to NAV only for that discount to then widen a lot more ……etc etc etc etc

So spend spare cash on dividends instead or on wise new investments/investing in the business. Agree that sometimes those new investments acquisitions are also unwise, and that might prove to be the case with Vertu this time. But competent Management DO invest wisely, whereas Managers who buyback often seem to do so because they lack the imagination or skills to invest wisely.

And Managers like buybacks because buybacks do mean eps is higher (though that doesn’t automatically mean higher share price) and so often Director bonus payments are based on eps performance and NOT share price performance! So buybacks DO reward Directors but they often punish shareholders! And the shareholders who do best out of buybacks are those who sell and take advantage of the willing buyer…..I.e The Company buying back.
Posted at 29/10/2022 19:16 by clive7878
The Volkswagen Group's sales revenue in 2022 is expected to be 8% to 13% higher than in the previous year, and that of the Passenger Cars Division 5% to 10% higher. In terms of operating margin the Group continues to expect to come in at the upper end of the corridor of 7 to 8,5%. Reported net cash flow is expected to remain at the same level as in 2021. In 2022, net liquidity in the Automotive Division is further anticipated to be up to 15% higher than the prior-year figure, before Porsche IPO proceeds.

Sounds good to me, - the word "higher" is mentioned several times - especially as the report earlier says "in difficult times"

As per VTU - a very solid well run company with good management, where the the gloom and doom of the market as a whole and which is very much accounted for in with the share prices - probably too much accounted for in with the share price now investors believe it over done - and may not prove to be as bad as the share price and market is forecasting. That is why the share price has risen last week cause a number of investors believe the down turn from 75p to 40p was over done and why now the share price stands at 44.8p. Lets see if last week was just a blip.

Did we miss that a million shares were bought in one day in 50k lots ?
That does not look like a Company going down the pan, even if the Bank of England raises the base rate next Friday to 3.25% and just before Christmas to 4.25%.
Posted at 24/10/2022 19:03 by clive7878
It was said that along with a problem & a delay in buying new cars, supply is exceeding demand with second hand cars, that should keep prices high for some time to come.
Lookers have already said that trading is still very strong.
Thats why VTU share price has bottomed out at 40p, & 2nd half results will exceed expectations.
What about the million shares in VTU bought in one day last week?
Posted at 07/10/2022 13:38 by rabiddog
Sunshine..the global economic woes are more than baked into VTU share price. Cash rich, asset rich, well run and made most of the predicted yearly profit in first 6 months. Dividend well covered, potential acquisition target…very happy to keep topping up at these prices.
Posted at 29/9/2022 20:00 by clive7878
On the financials they say net asset value is 88p per share, a lot better than PDG, and there is the 4% divi.
PDG moved very little on fairly good results, maybe VTU will do the same. Many shares have hit a new low of late.

I believe VTU share price has bottomed out. It hit 38p but quickly rebounded to today price..
On fundamentals the price is beginning to look very good value after hitting 75p early on in the year.
When to buy is the question.

DEC went up today, due to the 10% yield - paying a quarterly dividend
SBRY still slides even though the dividend now is 7%
Although no good having a high dividend if one loses it in downward share price movement.
Posted at 29/9/2022 14:17 by clive7878
What will happen to sales in the next 6 months may not be as bad as people think
VTU share price does appear to have bottomed out at around 42p,
The market is anticipating what could happen in the next 6 months though,
especially if finance borrowing rates rise - will this effect car sales dropping off, profits and the share price.

In fact VTU is holding up well in todays market, but then the fundamentals are very good.
Could be rated as a buy ?
Vertu Motors share price data is direct from the London Stock Exchange

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