Business
Final results for the year ended 28 February 2025
Final results for the year ended 28 February 2025.
About this update from Vertu Motors Plc
[{"type":"text","content":"\n\n 14 May 2025\n\nVertu Motors plc ('Vertu', 'Group')\nFinal results for the year ended 28 February 2025\nOperational excellence driving resilient results in challenging market conditions\nRobust cash generation and significant cost reductions delivered\nStrong start to new financial year\n \nVertu Motors plc, the UK automotive retailer with a network of 198 sales and aftersales outlets, announces its final results for the year ended 28 February 2025 ('Year').\nCommenting on the results, Robert Forrester, Chief Executive Officer, said:\n'With challenging market conditions during the Year which saw the lowest new retail car market for 25 years, we have focused on the things we can control and delivered increased new retail electric vehicle sales ahead of the market and strong performances in used cars and aftersales. In addition, cash generation was robust in the second half with net debt levels reduced compared to market expectations. In anticipation of Government related cost pressures effective 1 April 2025, the business undertook a significant cost reduction programme to fully offset the impacts and position the Group for the future.\nTrading in March and April has been stronger than the prior year, as the UK retail new car market improved from its lows and the Group continued to focus on operational excellence. Our high margin Aftersales business has sustained its robust performance.'\n \nFINANCIAL SUMMARY\n\n\n\n\nYears ended 28 February\n\n\n 2025\n\n\n 2024\n Restated1\n\n\n\n\nRevenue\n\n\n£4,763.9m\n\n\n£4,686.3m\n\n\n\n\nAdjusted1 profit before tax\n\n\n£29.3m\n\n\n£34.7m\n\n\n\n\nProfit before tax\n\n\n£24.8m\n\n\n£34.6m\n\n\n\n\nBasic Adjusted1 EPS\n\n\n6.58p\n\n\n7.60p\n\n\n\n\nDividends per share\n\n\n2.05p\n\n\n2.35p\n\n\n\n\nFree Cash Flow\n\n\n£37.3m\n\n\n£57.0m\n\n\n\n\nNet Debt2\n\n\n£66.6m\n\n\n£54.0m\n\n\n\n\n \nHIGHLIGHTS\n· Adjusted1 profit before tax of £29.3m (FY24: £34.7m), in line with current market expectations. Profits reduced year-on-year due to a weak new car retail market in the UK and pressures arising from the Government Zero...