Vertu Motors – 34.725p

5 September 2019 – trading update

The company has released a reassuring update on trading prior to entering a closed period on 10 September.  Following the trading update provided at the Annual General Meeting held on 24 July, the UK Motor Retail Sector has seen a continuation of the market trends set out at the time.  There has been increasing price stability in the general used vehicle market since July.  There is a slight confusion as the company has noted that underlying profit before tax for the year to 28 February 2019 is in line with current market expectations.  This should almost certainly be the year to 28 February 2020.  Results for the six month period ended 31 August 2019 will be released on 9 October.  The shares are cheap and rank as a BUY.

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