12 May 2021 - final results

AIM-listed automotive retailer Vertu Motors, a company we have followed closely for a number of years, has released final results for the year ended 28 February 2021.  Group revenues were down to £2.5bn (2020: £3.1bn) due to disruption from lockdowns.  However, gross margin increased to 11.8% (2020: 10.9%) and there were significant cost reductions, leading to a £16.0m reduction in like-for-like operating expenses in the nine months from 1 June 2020 to 28 February 2021.  Adjusted operating profit was £33.8m (2020: £32.2m) and profit before . . .

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