UK motor retailer Vertu Motors Plc (LON:VTU) is set to tell shareholders at its AGM this afternoon that overall profitability had met expectations during the 12 months to June 30 despite continuing economic turmoil. Vertu snapped up 13 new sales outlets last year, including two dealerships in Scotland and two in north-west England during June. It said that all new outlets were performing in line with their respective business plans and that the latest acquisitions were expected to be earnings enhancing in the year to February 2012. Vertu said it was continuing to evaluate a significant number of other growth opportunities. Shares in the company edged 0.9% lower to 27.75p.

Elsewhere, Sports Direct Intl Plc (LON:SPD) reported that revenues in the year to April 25 had risen by 6.2% to £1.452bn with underlying EBITDA up 17.3% to £160.4m, underlying pre-tax profits up 49.8% to £102.1m and earnings per share up 56.2% to 12.39p. Its UK and international divisions saw sales increase by 11.0% and 17.2% respectively but its brands business slipped by 17.4%. The group also posted a substantial reduction in net debt of 27.7% to £311.9m. CEO, Dave Forsey, said the company was confident that initiatives in all areas of the group, including improved staff training and new in-store merchandising areas, put it in a strong position for the next phase of growth. He added that the company was now targeting an underlying EBITDA of around £195m in the current financial year. Shares in Sports Direct fell by nearly 3% to 113.8p.

Finally, Kingfisher (LON:KGF), the group behind the B&Q, Castorama, Brico Dépôt and Screwfix brands, reported that total sales had increased by 0.3% in constant currencies in the 10 weeks to July 10 but were down 0.8% on a like-for-like basis. A positive performance in France, Poland, China, Spain and Russia was offset by declines in the UK and Ireland. Nevertheless, Kingfisher described the performance as “solid” given the uncertain environment for customers across Europe. It said that pressure on consumer spending, notably in the UK, meant it was focussing on carefully targeted promotions to drive profitable sales as well as improving cash margins and vigorously controlling costs. As a result, the company’s expectations for first half cash and profit outturn remain on track. Shares in Kingfisher fell by 1.7% to 219.6p.

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