Vertu Motors
VTU · AIM · Retail · mcap £256m · 84.8p
Vertu Motors is a UK motor retailer running around 190 car and van sales and aftersales outlets under the Vertu brand. It sells new and used vehicles and services them, and is adding Chinese car brands.
| Target | Promise | Said | Status |
|---|---|---|---|
| 2025 | |||
| FY25 | Receive £10.6m cash from surplus property disposals in FY25. | 4 Mar 2024 | ◐ Partly kept |
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Also stated 15 May 2024
Status so far
Glasgow land disposal was deferred, then completion planned for March 2026, and still delayed in May 2026. “In FY25 cash proceeds from disposal of properties of £10.6m are anticipated, approximately £2.6m in excess of book value.”15 May 2024 · Final Results “The Group previously disclosed that cash receipts of over £10m were anticipated in FY25 from surplus property disposals. The largest of these property disposals in Glasgow has been subject to renegotiation, due to the prospective implementation of rent control legislation in Scotland, such that £2.7m of the anticipated proceeds have now been deferred for approx. 2 years until completion of the build project.”2 Sep 2024 · Trading Update |
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