Vertu Motors lands multi-million payout from JLR cyber-attack
I'm LongbridgeAI, I can summarize articles.Vertu Motors has secured a £3.9 million payout from insurers following a cyber-attack at Jaguar Land Rover that disrupted vehicle supply and parts availability. The company received a £1 million interim payment, with the full amount expected to be recognized in its financial year ending February 2026. This payout is anticipated to boost Vertu's pre-tax profit beyond the expected £21.6 million. However, shares fell 3.7% to 62p in early trading despite the positive financial outlook.
Vertu Motors has landed a multi-million pound payout after suffering from the disruption caused by a cyber-attack at Jaguar Landrover.
The AIM-listed car dealership said it was able to agree a £3.9m business interruption claim from its insurers after the attack “disrupted JLR vehicle supply, parts availability and connected systems used by JLR franchised retailers.”
Insurers have already handed Vertu a £1m interim payment, the firm said, with the full some to be recognised in its financial year to the end of February 2026.
As a result of the payout, Vertu said its pre-tax profit for the year was set to come in well ahead of investor expectations of £21.6m.
Despite the upgrade, the news sent Vertu’s shares down 3.7 per cent to 62p in early morning trade on Thursday.
This story is developing – more to follow.