Vertu Motors to beat market expectations
1st Mar 2013 12:58
Shares in Vertu Motors climbed higher on Friday after the group revealed its trading performance in the year ended February 28th will be ahead of current market expectations, boosted by like-for-like growth in its retail vehicle sales channels during the five months to the end of January. It also
Read moreFriday broker round-up - UPDATE
19th Oct 2012 09:00
Aggreko: Jefferies keeps buy rating and 2,800p target; Seymour Pierce keeps buy rating and 2,500p target; Panmure Gordon cuts target from 2,228p to 2,159p, hold rating unchanged. Alliance Pharma: umps upgrades to buy, target lifted from 32p to 37p. Avacta: Panmure Gordon keeps buy rating and 1.75p
Read moreLondon close:Unemployment data boosts sentiment
17th Oct 2012 16:58
The Footsie finished the day firmly in the blue and just short of the day's high after better-than-expected unemployment figures lifted sentiment. Miners were also playing their part, boosted by investor confidence ahead of the third quarter growth data due out from China, which is expected to incr
Read moreLondon midday: Miners lead steady advance
17th Oct 2012 11:43
Footsie finished the morning close to the day's high after better than expected unemployment figures lifted sentiment. The number of people out of work fell by 50,000 between June and August to 2.53m. This put the unemployment rate at 7.9%, down 0.2% from the March to May figure. Most analysts ha
Read moreVertu Motors puts its foot down - UPDATE
17th Oct 2012 09:57
Vertu Motors accelerated after raising full year guidance in the wake of a strong set of interim results. For the six months (H1) ended August 31st, revenue increased by 14.8% to £628.1m (2011 H1: £547.0m). Acquisitions in the first half of the financial year accounted for £3.8m of revenue, while
Read moreWednesday broker round-up - UDPATE
10th Oct 2012 08:22
African Barrick Gold: Nomura cuts target from 670p to 605p, buy rating kept. APR Energy: JPMorgan Cazenove initiates coverage with overweight rating and 1,005p target. ARM Holdings: Credit Suisse initiates coverage at neutral. ASOS: Seymour Pierce keeps hold rating and 1,900p target. Avanti Com
Read moreVertu bags Co-op Motors' sites
10th Sep 2012 10:02
Car dealership group Vertu has bought three Co-op Motors sites in a deal worth 5.5m sterling. The sites add a further six franchise outlets to Vertu's portfolio, with Nissan and Fiat in Derby, Nissan and Peugeot in Ilkeston and Nissan and Renault in Bradford. In the year to the end of December, t
Read moreVertu eyes acquisitions as profits grow
3rd Sep 2012 10:45
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
Read moreVertu eyeing three Co-op dealerships
31st Aug 2012 07:58
Car dealer Vertu Motors, which saw its share price shoot up in the first half of August, has confirmed it is in talks with the Co-operative Motor Group in connection with the potential acquisition of three dealership locations. This potential transaction is subject to agreement of contract terms,
Read moreExperian director reduces stake by 40,000
7th Aug 2012 14:58
Experian non-Executive Director, David Tyler, who is also the Chairman of both Sainsbury and Logica, has ditched 40,000 shares in the FTSE 100 financial data company. Tyler's sale, which saw him pocket £388,236 by selling the shares at 970.59p each, comes less than a month after the company posted
Read moreVertu sees signs of life in new car market
16th May 2012 16:39
Sales and profits were slightly ahead of expectations last year at car dealer Vertu Motors, while the new fiscal year has started well on the back of a reviving new car market. Revenue in the year ended February 29th rose 8.9% to £1,088m from £999m the year before, a share ahead of market expectati
Read moreVertu Motors buys another dealership
1st Sep 2011 08:22
Car dealer Vertu Motors announced the expansion of its portfolio with the £3.2m acquisition of Widnes Car Centre in Cheshire on 31 August 2011. The group's latest acquisition comprises a Nissan dealership in Widnes and a mobility vehicle conversion business based in Batley, West Yorkshire. This acq
Read moreLondon midday: Stocks give up gains ahead of summit
21st Jul 2011 12:03
This morning's bright start seems a distance memory, with stocks are deep in the red ahead of the EU summit on the sovereign debt crisis. Latest reports say Germany and France intend to let Greece default temporarily as part of a programme of buying back bonds. They have also ruled out bank levies.
Read moreVertu Motors sees sales drop
21st Jul 2011 09:51
Vertu Motors, the car retailer which owns the Bristol Street Motors, Vertu Honda and Macklin Motors brands, has seen sales of new cars drop 6.6% on a like-for-like basis. The figure announced in the Chairman's statement at Thursday's annual general meeting is better than the total UK market, which
Read moreVertu chief exec takes a big stake
11th May 2011 17:23
Chief executive Robert Forrester has lifted his holding in Vertu Motors close to the 3% mark, spending nearly £140,000 on shares in the company. He took 462,000 shares at 30p a time and now has 6,324,812. His purchase came on the same day Vertu posted a rise in profits for the year to 28 February
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