Stock data
| Market cap. | £56.8m |
| Last close | 28.50p |
| High / Low (52 weeks) | 35.2p / 22.8p |
| Stock market listing | AIM |
| Forecast net cash (£m) | 12.2 |
| Forecast gearing ratio (%) | N/A |
| Team | Industrials |
| Sector | Automotive Retailers |
Price performance
| % | 1m | 3m | 12m |
|---|---|---|---|
| Actual | 1.79 | 1.79 | (9.52) |
| Relative * | 6.78 | 10.15 | (0.57) |
* % Relative to local index
Other companies covered in sector
| Eco City Vehicles | H R Owen |
| Inchcape | Lookers |
| Pendragon |
| Y/E Feb | Revenue (£m) | EBITDA (£m) | PBT (£m) | EPS (p) | P/E (x) | P/CF (x) |
|---|---|---|---|---|---|---|
| 2010A | 818.9 | 10.5 | 6.9 | 3.20 | 8.9 | 3.0 |
| 2011A | 998.9 | 12.1 | 8.4 | 3.23 | 8.8 | 5.2 |
| 2012E | 1050.0 | 11.3 | 7.0 | 3.14 | 9.1 | 4.6 |
| 2013E | 1150.0 | 12.0 | 7.5 | 2.97 | 9.6 | 4.2 |
Last updated on 19/04/2012
Latest research
Opportunities out there
Update | Automotive Retailers | 20/10/2011
More growth to come
Update | Automotive Retailers | 12/05/2011
Defying the market
Update | Automotive Retailers | 14/05/2010
Progress continues
Update | Automotive Retailers | 21/01/2010
Outperforming still
Update | Automotive Retailers | 21/10/2009
Acquisitions are back
Outlook | General Retailers | 12/08/2009
Still gaining share
Update | General Retailers | 05/03/2009
Quality management
Review | General Retailers | 03/11/2008
Underlying growth
Review | General Retailers | 27/05/2008
Meeting expectations
Quarterly Update - Trading update | General Retailers | 11/03/2008
Starting to motor
Interim Review - Interim results | General Retailers | 28/11/2007
Positive AGM
Update | General Retailers | 03/09/2007
Investment summary
Results for the year to February 2012 should match up to City estimates, despite the challenging trading climate in volume cars. Vertu will almost certainly have raised its share of business in each of the marques for which it acts, while used-car and aftermarket operations also perform well. Vertu's strategy remains to develop regional clusters of franchises with chosen OEM partners. It has a strong balance sheet, with substantial funds available to finance strategic acquisitions. The potential from these deals is not recognised in the share price.
Last updated on 23/04/2012
Industry outlook
City sentiment towards the motor distribution sector remains cautious. Fears about current-year trading remain, overshadowing the action taken by retailers to build their downstream activities. SMMT forecasts suggest little change in new vehicle registrations, yet the leading groups all appear to be gaining market share. Profits are still under pressure in the short term, but this provides acquisition opportunities for those who are able.
Last updated on 23/04/2012
Key management
| Robert Forrester, CEO |
| Michael Sherwin, FD |
Company address
| Vertu House, Kingsway North Team Valley Gateshead Tyne & Wear NE11 0JH United Kingdom +44 (0) 191 491 2121 View website |
