Vertu Motors has shared an update on its performance ahead of the close of its financial half year, ending 31 August 2026.
The Group has continued to trade strongly and above prior year levels, with new retail vehicle sales and used vehicle volumes performing well.
Robert Forrester, Chief Executive Officer, said: “The Group has delivered a strong trading performance in the five month period to 31 July 2026, with positive contributions from new and used vehicles, increased fleet market share, and continued momentum in our high-margin aftersales operations. Order-take levels for the important September plate change month give the Board confidence that results for the full year will be ahead of market expectations.
“We also welcome the Government’s consultation on the ZEV Mandate, an area on which we have actively engaged with Government for some time. We hope this will result in a more pragmatic transition to electrification which better reflects consumer demand and prevailing market conditions.
“There is now an opportunity for a reset to allow the automotive sector in the UK to make a bigger contribution to economic growth of the UK.”
Aftersales revenue increased and contributed to the growth in Group profits year-on-year.
Group gross margins are stable while operating expenses continue to be well controlled.
The Group has managed working capital in H1 and anticipates net debt to be in the range of £74.0m to £77.0m at the end of August (H1 2026: £78.3m) excluding IFRS 16 liabilities.
As part of its Share Buyback programme, 2.4m shares have been purchased in the financial year to date for £1.7m.
To date, 21.9% of the share capital of the Group has been repurchased since the commencement of the programme in 2018 while £10.3m remains of the £12m buyback announced on 5 March 2026.
Vertu now operates 18 sales outlets representing Chinese automotive brands including BYD and MG.
Further franchise portfolio developments are expected to be finalised in the coming months with focus on Chinese brands.
Outlook Retail new vehicle order-take for the July-September calendar quarter is running ahead of prior year levels.
The Board anticipates that full year results for FY27 will be ahead of current market expectations.
The Group’s interim results will be announced on Wednesday 14 October 2026.
