The UK's fifth largest motor retailer Vertu Motors was seen as a more favourable prospect by Canaccord Genuity after the AIM-quoted firm posted a rise in pre-tax profits in its most recent trading year, despite seeing a slight decrease in revenues.
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Automotive retailer Vertu Motors posted a drop in full-year pre-tax profit on Wednesday amid a tougher trading environment.
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UK new car sales fell steeply in the historically strong month of September for the first time in six years to record their sixth monthly decline in a row.
Automotive retailer Vertu Motors updated the market on its trading on Friday, before entering a close period.
Households continued to pile debt on to their credit cards and run down their savings to meet living costs in May as the squeeze on wages bit deeper. The annual growth in personal deposits dropped to 2.6%, the lowest for more than five years, according to figures from the British Bankers' Association. Consumer credit growth, in credit cards, overdrafts and personal loans, slowed to a rate not seen since October 2015, but at 5.1% remained high by historic standards. - The Times
New car sales shifted sharply into reverse gear in April after the record previous month when drivers rushed to buy before the imposition of the new vehicle excise duty.
UK new car sales a record performance in the key month of March as consumers zoomed in before the new vehicle excise duty rates came into force over the weekend.
New car registrations fell 0.3% in February following weak demand that economists found surprising, but the industry expects sales to go up a gear in March despite concerns about consumer confidence.
Investors overreacted after the referendum vote, selling down shares of Vertu Motors over fears that Britons would be too afraid to continue splashing out on big-ticket items like cars, The Times´s Tempus said.
Depending on whether the UK finally decided to 'Remain' or 'Leave' then different London-listed securities were likelier to 'outperform' their respective sectors, Liberum said.
Car dealer Vertu Motors has had a "Buy" opinion placed on it by the Telegraph's Questor column, which cites likely improvements to next year's results and broker upgrades after news of a recent deal.
Vertu Motors has acquired five outlets in Derbyshire for £18.7m, including its first Toyota dealership and sixth with Land Rover.
Fresh from its upbeat trading update, Vertu Motors has confirmed it aims to raise £35 million at a discounted fundraising to help fund acquisitions.
Vertu Motors was eyeing up a record year on Tuesday, though the markets didn't quite seem to agree with the board in afternoon trading.
Car retailer Vertu Morors has completed the acquisition of Audi and Volkswagen dealer SHG Holdings for £12.8m in cash.
UK automotive retailer Vertu Motors saw its full-year revenues and profits rise on Wednesday thanks to an increase in customers and strong sales of used cars.
Automotive retailer Vertu Motors has completed the acquisition of two car dealerships for a combined £8m.
Vertu Motors has acquired The Taxi Centre, a firm which sources vehicles for private operators in the taxi sector.