Vertu boosted by car sales rise

Car dealership Vertu Motors bucked the downward trend in the car market during September by recording a huge increase in its sales.

According to the Newcastle group, its new car retail volumes dropped by only 2.6% last month, while there was a 19% decline in the overall market.

Boosted by the better-than-expected sales, the dealership is now hoping to post a record profit in the full financial year.

Vertu said September is important to trading performance in the second half of its fiscal year.

In its trading update for the six months to August 31, the company reported a 24% increase in pre-tax profits to £5.2 million.

The group added that it did not experience a dramatic drop in demand from consumers following the end of the Government's car scrappage scheme.

Robert Forrester, chief executive of Vertu, said: "With the outperformance of market expectations by the group in the first half of the year and a strong financial result in September, the group is currently trading ahead of expectations for the full financial year."

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