18th Aug 2015 06:47
LONDON (Alliance News) - Car retail and leasing company Marshall Motor Holdings PLC on Tuesday said its pretax profit and revenue both rose in the first half as it increased its new and used sales and posted improved aftersales revenue.
Marshall Motor said its pretax profit for the first half to the end of June was GBP10.5 million, up 9.8% from GBP9.5 million it posted a year earlier, as revenue increased to GBP632.5 million from GBP545.4 million, up 16%.
On the back of the results, the group, which floated in London in April, said it will pay a maiden interim dividend of 0.58 pence per share.
Marshall said its trading performance in the first half was strong, with good contributions from acquired businesses and a robust organic growth. New-car unit sales were up 10.4% in the half and up 5.9% on a like-for-like basis, while used-car unit sales rose 11.8% and by 2.7% on a like-for-like basis. Total aftersales revenue in the half was up 9.0% and rose 1.7% in like-for-like terms.
"The board is pleased to announce strong trading in the first half of the year, underpinned by a combination of contributions from recently acquired businesses and like-for-like organic growth which led to our retail and leasing segments reporting significant growth in profit before tax," said Chief Executive Daksh Gupta.
"Based on current market conditions, the board's outlook for the full year remains in line with our expectations," Gupta added.
By Sam Unsted; [email protected]; @SamUAtAlliance
Copyright 2015 Alliance News Limited. All Rights Reserved.
Related Shares:
MMH.L