StockMarketWire.com - Auto dealer Vertu Motors said its revenue slipped 2.7% in the five months through January, putting it on track to meet its expectations for the year.

In a trading update for the year through February, the company also said like-for-lie sales in the five months through January fell 2.1%.

Growth in services revenue was offset by a drop in sales volumes of both new and used vehicles.

In the used segment, like-for-like margins and gross profit improved, as volumes fell 3.1%, owing to strong pricing disciplines and tighter used car supply, Vertu Motors said.

New retail vehicle volumes were 9.9% lower with stable margins, it added.


At 9:43am: [LON:VTU] Vertu Motors PLC share price was +0.8p at 31.8p



Story provided by StockMarketWire.com