Vertu Motors has landed a multi-million pound payout after suffering from the disruption caused by a cyber-attack at Jaguar Land Rover (JLR). The AIM-listed car dealership announced that it successfully negotiated a £3.9m business interruption claim from its insurers following the attack, which severely impacted JLR's vehicle supply chain, parts availability, and connected systems used by JLR franchised retailers.
Interim Payment and Financial Impact
The company revealed that insurers have already provided a £1m interim payment, with the full amount set to be recognized in its financial year ending February 2026. As a result of this payout, Vertu stated that its pre-tax profit for the year is expected to significantly exceed investor expectations of £21.6m. Despite this positive financial upgrade, the news triggered a 3.7% decline in Vertu's shares to 62p during early morning trading on Thursday.
Background on the Cyber-Attack
The cyber-attack on JLR, which is a subsidiary of Tata Motors, caused an estimated £500m in losses for the automaker. The incident disrupted operations across JLR's network, affecting not only vehicle production but also the digital infrastructure that supports its retail partners. Vertu Motors, which operates numerous JLR franchises, was among the retailers hit by the cascading effects of the attack.
This story is developing, and more details are expected to follow as the situation unfolds.
