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Vertu Motors fiscal H1 profit climbs 27.8% YOY

Vertu Motors PLC said its normalized net income for the fiscal first half ended Aug. 31 amounted to 3 Great British pence per share, a gain of 26.6% 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 £10.2 million, an increase of 27.8% from £8.0 million in the year-earlier period.

Total revenue climbed 14.0% on an annual basis to £1.24 billion from £1.08 billion, and total operating expenses grew 13.9% on an annual basis to £1.22 billion from £1.07 billion.

Reported net income increased 28.4% year over year to £13.0 million, or 4 pence per share, from £10.1 million, or 3 pence per share.