There are unlikely to be any surprises when Vertu Motors (VTU) unveils interim results next week, covering the six months to 31 August. We already know that in the first four months of the half year like-for-like sales were up 16 per cent and gross profits were 28 per cent higher than last year, prompting management to upgrade its expectations for the full year. A pre-close trading update last month reported that the group has continued to outperform.
Data from the Society of Motor Manufacturers and Traders should also give investors confidence. Registrations in the important month of September, as shown below, were up 5.6 per cent year-on-year to the highest level since 2004. That said, after an 18 per cent surge in March registrations, September's more tempered growth indicates demand is returning to more normal levels. Analysts at Edison reckon Vertu is on track to achieve adjusted EPS of 4.7p for the full year, up from 4.6p.