Vertu Motors shares down as firm eyes record profits
Vertu Motors was eyeing up a record year on Tuesday, though the markets didn't quite seem to agree with the board in afternoon trading.
FTSE AIM 100
3,511.35
09:20 19/11/24
n/a
n/a
FTSE AIM 50
3,929.50
09:20 19/11/24
n/a
n/a
FTSE AIM All-Share
725.86
09:20 19/11/24
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General Retailers
4,580.38
09:19 19/11/24
-0.42%
-19.30
Vertu Motors
60.10p
09:19 19/11/24
-0.17%
-0.10p
The AIM-traded company released a pre-close trading update early in the day, ahead of its results for the year ended 29 February.
"[We expect] trading performance for the year ended 29 February 2016 to be ahead of current market expectations, anticipating record revenues and profits in the period," the company's board said in a statement.
It added that, in the five months ended 31 January, Vertu saw continued growth in volumes, revenue and profits.
Trading in the company's shares followed a downward trend throughout the day, however, and at 1501 GMT its price was down 1.71% to 69.3p.