Vertu Expansion ‘Anywhere, Any Time’      

Look out for further growth from mega-dealer Vertu Motors after chief exec Robert Forrester was interviewed by AM saying they could grow “anywhere at any time”.  This comes after Vertu posted improved profits for in its H1 results.

The H1 update from the PLC that includes Vertu Motors, Bristol Street Motors and Macklin Motors showed pre-tax profit up to £28.2 million on increased revenues of £2bn.

Forrester told AM that “the business is strategically very well placed with significant firepower to expand its footprint of franchised dealerships across the UK.

“In my opinion profits were going to be down this year by around 50% this year, and I still don’t think that I’m far out with that, so we have to acquire with that in mind.”

Forrester confirmed that acquisitions are on the horizon but was coy as to where or when.  

As we know, Vertu already has a huge range of brands across it 160 outlets.  More to come?