Vertu Motors books record H1 pretax profit

Vertu Motors has booked a record H1 pretax profit of £18.7m, up 14.0% from £16.4m. It anticipates its FY results will be in line with market views.

Interim dividend was hiked 11.1% to 0.5p a share, from 0.45p.

Revenue rose 17.7% to £1.45bn, from £1.24bn.

"In the first six months of trading, our proven growth strategy has delivered a record set of results with increased revenues, gross margins and profits," said CEO Robert Forrester in a statement.

"We have continued to successfully grow the business, through both organic growth and the acquisition and integration of premium franchises, as we seek to build a balanced portfolio.

"Consistent delivery of an outstanding customer experience continues to be a strong driver of the growth of dealership performances across the Group. This is demonstrated by the growing number of customers retained into the Group's aftersales businesses.

"The outlook for the remainder of the year remains positive, underpinned by low interest rates and record high levels of employment in the UK economy.

"The Group's trading performance in the key September plate change month was strong. The Board anticipates that the Group's full year results will be in line with market expectations."