LONDON (ShareCast) - British automotive retailer Vertu Motors has confirmed it is trading in line with market expectations, courtesy of some new acquisitions.

Last week the group opened a new Fiat brand centre in a recently acquired leasehold property, representing Fiat, Alfa Romeo and Jeep in Newcastle.

On Monday, Vertu confirmed it had taken over representation of Alfa Romeo and Jeep in Newcastle, after Benfield Motor Group had opted to relinquish the brands and announced many of its staff would be transferred to the new dealership.

Vertu, which will announce its half year results on 15 October, said it was confident of making further financial progress during the remainder of the financial year.

Vertu shares were up 1.31% to 58p at 12:51 on Monday.

DC

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