Vertu Motors shared an update with regards to the five-month period to 31 January 2026 ahead of its preliminary results for the year ended 28 February 2026 to be announced on 13 May 2026.
The update highlights a further cost efficiency programme with £10m annualised cost savings delivered ahead of FY27. Exceptional costs of c£4-4.5m incurred in FY26 results to achieve these savings and resulting from a limited number of dealership closures.
Robert Forrester, Chief Executive of Vertu Motors, said: “We are pleased with the team’s performance as we control the controllables against a challenging market backdrop in the new vehicle segment in large part due to the Government’s ZEV mandate. Used vehicle sales were robust despite consumer uncertainty impacting retail demand.
“Our resilient aftersales business continues to thrive aided by higher technician numbers. The work that has gone into cost control, property disposals and optimising stock levels has contributed to an excellent cash performance.
“Despite the impact of the complex market dynamics on the short-term performance of the business, the sector presents opportunities for Vertu given our strong balance sheet, excellent Manufacturer partnerships and reputation, robust and scalable systems, and a great team.”
Whilst the new car market remains challenging due to the ZEV Mandate, the Group’s new vehicle like-for-like order-take for the important plate change month of March is tracking well, in line with prior year levels.
In terms of used cars, performance is strong with like-for-like volume growth of 2.8% delivered in the Period, at slightly reduced margins.
The Group’s Jaguar Land Rover business has returned to normal operations after the reported cyber-attack on JLR in September 2025. The financial impact of the cyber-attack has been below what was originally anticipated, with an insurance claim progressing.
Vertu’s full year FY26 adjusted profit before tax is expected to be in line with market expectations.
In addition, the Group continues to actively manage its portfolio with further expansion of Chinese brands delivered and planned.
