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Three Quick Facts: Vertu Motors, Stagecoach Group and Foxtons


Here are three things you need to know in the financial markets this morning from investment writer, Tony Cross.

#1.  Vertu Motors trading update lifts profit forecast

A trading statement from Vertu Motors LON:VTU shows that its core market continues to go from strength to strength, with supply shortages keeping margins high. This has resulted in a further upgrade to full year results covering the period to February 28th, where pre-tax profits are expected to be no less than £75m. A £3m share buyback has also been announced.

#2. Stagecoach Group on course for full year but uncertainty lies beyond

Transport operator Stagecoach Group [LON:SGC] has published a trading update today in the wake of that update from the Department for Transport of further COVID recovery funding. The company notes it is on course to meet with trading expectations to April 30th and notes that in the first half of February passenger numbers were around three quarters of those seen pre-pandemic, a number that it expects to see continue improve into the next FY, although notes that it also has to deal with a swathe of uncertainties, including further government support and the challenge of cost inflation.

#3. Foxtons returns to profitability

Foxtons LON:FOXT has reported full year results to December 31st today. These show revenues of £126m against £93m last year and £107m in 2019. A pre-tax profit of £5.6m – the first since 2017 – has been recorded with shareholders receiving a 0.45p per share full year dividend and also benefitting from a £5.7m share buyback. The sales market is reported as remaining strong and significant productivity improvements have been reported, too. Subject to the geopolitical situation, the company expects the trading outlook to remain positive.

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This article does not constitute investment advice. Make sure you do your own research or consult a professional advisor.

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