Macklin Motors owner maps out road ahead as divi increases
Ver tu Motors, the car deal - er ship group that trades as Mack lin Motors in Scotland, has pointed to“potential threats” and“significant opportunities” as the industry gear sup for change.
The group, which has a network of 123 sales and aftersales outlets across the UK, delivered a full-year adjusted profit before tax of £23.7 million, ahead of market expectations, though down on the £28.6m booked a year earlier.
A full-year dividend of 1.6p per share represents a yearon-year increase of 6.7 per cent.
The group said it had traded in line with management’s expectations in March and April – the star t of its latest financial year – with trading profit expected to be inline with the prior-year period.
During the past year, Vertu faced a number of challenges including disruption to vehicle supply, driven by a weaker pound and new European car testing procedures, political uncertainty impacting consumer confidence and“significant” cost pressures.
Chief executive Robert Forrester said: “There are a number of potential threats to the group’s business model, however, there are also significant opportunities.
“The group’s future success is dependent upon its ability to continue to innovate in order to meet any changes in customers’ needs and in response to regulatory change… Success will ultimately rely on leveraging its proven strengths.”