James Baggott

Robert Forrester from Vertu Motors Live at midday

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Thanks james for the very informative guests on live during this lockdown

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Just watched Mr Forrester.Just as I thought ,he is all corporate and not a car dealer.Amazing guy to have built up a £2 billion T/O Dealer Group business employing 6000 people.However what I don’t understand is that he said Vertu have very little debt yet according to their accounts they have total liabilities of £870 m.He also said to his credit furloughed sales staff would be paid based on their wages including commission.

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Fantastic insight once again, Robert was very honest and straight forward in his views and I'm pleased to see these guests give their time,where else with out going to an agm would you get such insight,thanks again James  ,seriously.

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2 hours ago, trade vet said:

Just watched Mr Forrester.Just as I thought ,he is all corporate and not a car dealer.Amazing guy to have built up a £2 billion T/O Dealer Group business employing 6000 people.However what I don’t understand is that he said Vertu have very little debt yet according to their accounts they have total liabilities of £870 m.He also said to his credit furloughed sales staff would be paid based on their wages including commission.

I am planning on lending my business several hundred thousand pounds in a year or so's time. It will be a directors loan and will show on my books as liability but as I own the business, it is all wooden dollars surely. Could that be the case here (obviously on a much larger scale)?

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10 minutes ago, Mark101 said:

I am planning on lending my business several hundred thousand pounds in a year or so's time. It will be a directors loan and will show on my books as liability but as I own the business, it is all wooden dollars surely. Could that be the case here (obviously on a much larger scale)?

F off with your optimism they are all doomed for failure and hmrc and stocking loans and its not like it was and range rover driving fancy watch wearing corporate effers 

 

:lol:

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Posted (edited)

I thought they were a £3bn turnover business. Own outright £170m of used cars and have £25m stock funding - Those are the headlines I heard.

As I understand it, they will clearly be topping up employees salaries above the 80% to equate to an average wage based on the past (can't remember) number of months.

Those debts may be mortgages against property (they own not rent most of their sites). I have always maintained, debt is not a bad thing providing there is something tangible the debt has funded.

Edited by Mark101

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3 hours ago, trade vet said:

Just watched Mr Forrester.Just as I thought ,he is all corporate and not a car dealer.Amazing guy to have built up a £2 billion T/O Dealer Group business employing 6000 people.However what I don’t understand is that he said Vertu have very little debt yet according to their accounts they have total liabilities of £870 m.He also said to his credit furloughed sales staff would be paid based on their wages including commission.

Happy to be corrected but looking at at the PLC accounts shows 1% net profit before tax and most of their current assets are inventory, which will have the ability to lose value quite quickly at present I’d suggest. I need to watch the video but to me it didn’t look a healthy picture before Covid, let alone after.

Turnover is vanity, profit is sanity.

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24 minutes ago, CCC said:

 

Turnover is vanity, profit is sanity.

I watched ling cars on dragons den yesterday and one of those blokes on it went to see her a year later and they were his exact words

So that's where it came from possibly?

 

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