Vertu eyes acquisitions as profits grow
Vertu Motors, a car sales and repair network, with 82 branches across the UK, says it is in the mood to make a number of acquisitions to drive growth.
Vertu Motors, a car sales and repair network, with 82 branches across the UK, says it is in the mood to make a number of acquisitions to drive growth.
Trading at its current outlets, which operate mainly under the Bristol Street Motors, Vertu Honda and Macklin Motors brands, has been "in line with expectations" in the six months to the end of August.
The group is also expanding its Hyundai offering in Mansfield and the Honda franchise in Doncaster.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Vertu's Chief Executive, Robert Forrester, said: "We are seeing like-for-like year-on-year profit growth from new and used vehicle sales and importantly from vehicle servicing.
"This has been further bolstered by profit progress from acquisitions we have made in the last few years as they have been integrated into the platform. We are focused on growth and plan to use our strong balance sheet to make a number of acquisitions in the weeks and months ahead."
Vertu shares were up 1.4% at 10:53.
BS
-
-
Savers will benefit from Plum’s 4.94% money market account
Savers will benefit from Plum's 4.94% product that relies on money market funds that closely track the Bank of England’s base rate. We explain why this could be good news for savers.
By Rupert Hargreaves Published
-
Revealed: Best funds for DIY investors
Wondering where to put your money? With thousands of investment options, which funds, ETFs, trusts are the best? Bestinvest has just released it’s best funds list - we have all the details to help you strengthen your portfolio
By Kalpana Fitzpatrick Published