Profits soar at Vertu Motors

Car dealership group Vertu Motors saw pre-tax profits soar by three quarters to £4.9m over the first half of its financial year after acquiring a number of new sales outlets. Vertu, which will commence dividend payments in January, added that it beat management expectations for new car performance in September, gaining market share with new car retail volumes declining only 2.6 per cent versus a broader market fall of 19 per cent.