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.

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.

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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