6th Oct 2021 12:26
Marshall Motor Holdings PLC - Cambridge-based automotive retailer - Expects full year continuing underlying pretax profit over GBP50 million, as its like-for-like new vehicle unit sales in the third quarter outperform market by 13%. In August, expected full year underlying profit before tax of at least GBP40.0 million and "downward pressure" in second half like-for-like performance.
Notes constraints caused by global shortage of semi-conductors deteriorated through August and September. Delivery times for new vehicles "significantly extended" due to supply chain issues, but Marshall Motor notes it "benefited from exceptionally strong new car margins" in the third quarter which offset impact of reduced volumes.
Current stock price: 226.00, up 8.7% on Wednesday
Year-to-date change: up 61%
By Josie O'Brien; [email protected]
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