10th Aug 2021 14:34
Marshall Motor Holdings PLC - Cambridge-based automotive retailer - Swings to pretax profit of GBP39.5 million for half year ended June 30, booked loss of GBP10.7 million in the same period last year. Revenue climbs to GBP1.33 billion from GBP895.3 million last year. Underlying profit before tax is GBP38.4 million, expects full year underlying profit before tax of at least GBP40.0 million. Reinstates interim dividend at 8.86 pence per share.
"Despite the closure of our physical retail businesses until April 12 2021, the group's financial performance in the period was exceptional and we are particularly pleased to once again report the group's continued and significant outperformance of the wider new and used car markets during the period," says Chief Executive Daksh Gupta.
Gupta adds that the company expects "downward pressure" in second half like-for-like performance, and that "favourable demand-to-supply conditions for both new and used vehicles" is not likely to persist.
Current stock price: 247.36 pence, up 1.4% on Tuesday
Year-to-date change: up 76%
By Josie O'Brien; [email protected]
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