Strong operational performance for Vertu Motors as it records more than £4bn in revenues

Automotive retailer Vertu Motors said it had delivered a strong operational performance with “excellent cash generation” over the last financial year.

By Greg Wright

Published 10th May 2023, 11:47 BST

In the year ended February 28 2023, the company reported adjusted profit before tax of £39.3m on record revenues of £4.0bn.

Commenting on the results, Robert Forrester, the chief executive, said: “The year was critical for the group as we undertook our largest ever acquisition and generated over £4bn of revenues for the first time.

“The reported results reflect a strong profit and excellent cash performance, both ahead of expectations. As a result, we have chosen to propose a significantly increased final dividend, delivering a 26.5 per cent higher dividend for the year as a whole. The business is in a healthy financial and operational position to further develop and gain from the benefits of scale as sector consolidation continues.”

Vertu Motors