Making a Vertu of expansion plans

VERTU, the acquisitive Aim-listed motor group, is on track to meet market expectations with its full-year figures.

Speaking at the company's annual shareholder meeting yesterday, chairman Paul Williams said: "The board is pleased to report that overall profitability has been in line with our expectations for the four months ended 30 June."

He said the group continued to evaluate "a significant number of growth opportunities" to enable it to build "a successful, scalable motor retail group delivering shareholder value".

Last month, Vertu boosted its fledgling Scottish operation, buying two dealerships from Shields Automotive for 2.5 million. The showrooms are being re-launched under Vertu's Macklin Motors brand, created this year as its Scots moniker and already in use at sites in Dunfermline and Paisley.