Vertu Motors hopes for higher profits...but always be cautious about cars
Back in March HERE I wrote why I thought ‘what a strange company is Pendragon’ (PDG), but if you wanted to buy a car dealer then ‘look at a peer such as Vertu Motors (VTU) which is trading below book value and, via okay profitability, at a low double digit multiple’. Since then Pendragon shares are little changed but Vertu Motors shares are up well over 20% – and that includes a striking announcement today.
- By Chris Bailey
- 2021-06-23 10:03:58