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30 April 2026
Vertu Motors plc ("Vertu Motors", the "Company" or the "Group")
Business Interruption Insurance Settlement
Vertu Motors, a leading UK automotive retailer, announces that it has been notified by its insurers of a successful settlement of the Group's business interruption insurance claim relating to the cyber-attack on Jaguar Land Rover Limited ("JLR") in September 2025, which temporarily disrupted JLR vehicle supply, parts availability and connected systems used by JLR franchised retailers, including those operated by the Group. The business impact was resolved by early 2026.
The total claim recovery has been agreed at £3.9 million, against which a £0.5 million policy deductible applies, resulting in a total net insurance recovery to the Group of £3.4 million. A £1.0 million interim payment was notified in the 5 March 2026 trading update. The full recovery will be recognised as underlying income in the Group's results for the year ended 28 February 2026.
Impact on FY26 adjusted profit before tax
Reflecting the additional £2.4 million insurance recovery, the Board now expects FY26 adjusted profit before tax to be ahead of the current market consensus of £21.6 million (with a range of £21.0m to £22.0m) referenced in the Group's trading update of 5 March 2026.
Preliminary results for the year ended 28 February 2026 will be announced on 13 May 2026.
This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and is disclosed in accordance with the Company's obligations under Article 17 of MAR.
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Vertu Motors plc |
Tel: +44 (0) 191 491 2121 |
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Robert Forrester, CEO |
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Karen Anderson, CFO |
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Phil Clark, Investor Relations |
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Stifel (Nominated Adviser and Joint Broker) |
Tel: +44 (0) 207 710 7688 |
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Matthew Blawat |
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Callum Stewart |
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Shore Capital (Joint Broker) |
Tel: +44 (0) 20 7408 4090 |
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Mark Percy / Sophie Collins (Corporate Advisory) |
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Isobel Jones (Corporate Broking) |
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Camarco |
Tel: +44 (0) 203 757 4980 |
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Billy Clegg |
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Tom Huddart |
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Notes to Editors |
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Vertu Motors is the fourth largest automotive retailer in the UK with a network of 191 sales outlets across the UK. |
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Vertu Motors was established in November 2006 with the strategy to consolidate the UK motor retail sector. It is intended that the Group will continue to acquire motor retail operations to grow a scaled dealership group. The Group's acquisition strategy is supplemented by a focused organic growth strategy to drive operational efficiencies through its national dealership network. |
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Vertu's Mission Statement is to "deliver an outstanding customer motoring experience through honesty and trust". |
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Vertu Motors Group websites - https://investors.vertumotors.com / www.vertucareers.com |
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