vertu motors plc (VTU) Snapshot

Vertu Motors Plc reported audited consolidated earnings results for the year ended February 28, 2013. For the year, the company reported revenue of £1,259,335,000 compared to £1,088,262,000 a year ago. This reflected the impact of acquisitions made during the year and the full year impact of prior year acquisitions. Operating profit was £5,396,000 compared to £6,685,000 a year ago. Profit before tax was £4,525,000 compared to £5,541,000 a year ago. Profit for the year attributable to equity holders was £3,536,000 or 1.76 pence per diluted share compared to £5,033,000 or 2.53 pence per basic and diluted share a year ago. Adjusted earnings per share, diluted were 3.21 pence compared to 3.19 pence a year ago. Net cash generated from operating activities was £10,307,000 compared to £5,305,000 a year ago. Purchases of property, plant and equipment were £4,498,000 compared to £4,362,000 a year ago. Purchases of intangible fixed assets were £338,000 compared to £220,000 a year ago. Adjusted earnings attributable to equity shareholders were £6,428,000 compared to £6,356,000 a year ago. Adjusted EBITDA was £13.5 million compared to £12.3 million a year ago. Adjusted operating profit continuing operations was £11.0 million compared to £8.4 million a year ago, due to both like-for-like growth in the core dealerships, and crucially the turnaround in profitability of the dealerships acquired over recent years. Adjusted operating profit was £9.4 million compared to £8.4 million a year ago. Adjusted profit before tax was £8.2 million compared to £7.3 million a year ago. EBITDA was £9.8 million compared to £10.8 million a year ago. The board has proposed an increase in the final dividend to 0.45 pence per share. Taken together with the interim dividend of 0.25 pence per share, this provides a total dividend for the year ended February 28, 2013 of 0.7 pence per share against 0.6 pence per share in 2012, an increase of 16.7%. A final dividend in respect of the year ended February 28, 2013 is to be proposed at the annual general meeting on July 25, 2013. The ex-dividend date will be June 26, 2013, the associated record date is June 28, 2013 and the pay date is July 29, 2013.

Vertu Motors Plc, Special/Extraordinary Shareholders Meeting, Jun 07, 2013., at 11:00 GMT Standard Time. Location: Bond Dickinson LLP. Agenda: To discuss conditional agreement with Co-operative Group Limited to acquire the issued share capital of Albert Farnell Limited.

A new car dealership has opened in Derby, creating 15 jobs. Vertu Motors recruited sales executives, technicians, retail hosts and administrators for its Volvo dealership, in Sir Frank Whittle Road. Vertu bought the site as part of a deal with the Cooperative Motor Group to buy a number of dealerships across the Midlands. Since then, the company has invested £400,000 in the Volvo outlet. It has partly rebuilt on the site to create a 900-squaremetre single-storey building, selling a range of new and used cars. The site also has a Volvo workshop.