14 Nov 2018 07:00
14 November 2018
MARSHALL MOTOR HOLDINGS PLC
("MMH" or the "Group")
Trading Update
2018 continuing underlying PBT now expected to be ahead of last year
Marshall Motor Holdings Plc, one of the UK's leading automotive retail groups, issues the following trading update in response to better than anticipated trading during October 2018 and a more positive outlook for the remainder of the current financial year.
As previously announced on 11 October 2018, the introduction of the new Worldwide Harmonised Light Vehicle Test Procedure ("WLTP") had a significant impact on the UK new vehicle market during September 2018 which was expected to continue for the remainder of the year. Whilst the resultant new car supply imbalance is continuing, growth in our used car volumes and margins given supply constraints in the new car market, combined with further revenue growth achieved in aftersales, has given us more confidence over the expected outcome for the year.
As a result, the Board now expects continuing underlying profit before tax for the year ending 31 December 2018 to be ahead of the Group's record results reported last year.
The results for the year ending 31 December 2018 are due to be released on 13 March 2019.
ENDS
For further information and enquiries please contact:
Marshall Motor Holdings plc | c/o Hudson Sandler Tel: +44 (0) 20 7796 4133 |
Daksh Gupta, Group Chief Executive |
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Investec Bank plc (NOMAD & Broker) | Tel: +44 (0) 20 7597 5970 |
Christopher Baird |
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David Flin |
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David Anderson |
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Hudson Sandler | Tel: +44 (0) 20 7796 4133 |
Nick Lyon Bertie Berger Nick Moore |
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Notes to Editors
About Marshall Motor Holdings plc (www.mmhplc.com)
The Group's principal activities are the sale and repair of new and used vehicles. The Group's businesses comprise a total of 100 franchises covering 23 brands, operating from 83 locations across 26 counties in England. In addition, the Group operates five trade parts specialists, three used car centres, five standalone body shops and one pre delivery inspection centre.
In April 2018 the Group was recognised by the Great Place to Work Institute, being ranked the 21st best place to work in the UK (large company category). This was the eighth year in succession that the Group has achieved Great Place to Work status.