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Vertu Motors fiscal H1 profit climbs 48.8% YOY

Vertu Motors PLC said its normalized net income for the fiscal first half ended Aug. 31 was 2 Great British pence per share, a gain of 14.5% from 2 pence per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was £8.0 million, a gain of 48.8% from £5.4 million in the prior-year period.

Total revenue climbed 29.5% on an annual basis to £1.08 billion from £837.2 million, and total operating expenses grew 29.3% year over year to £1.07 billion from £828.1 million.

Reported net income increased 50.4% year over year to £10.1 million, or 3 pence per share, from £6.7 million, or 3 pence per share.