17th Mar 2016 08:32
LONDON (Alliance News) - Marshall Motor Holdings PLC on Thursday reported growth in profit in 2015 boosted by strong performances in both its retail and leasing segments, and said it is confident of delivering "material growth" in 2016.
The automotive retail and leasing group, which joined AIM last April, said its pretax profit in 2015 grew to GBP15.4 million from GBP12.9 million in 2014, as revenue rose to GBP1.23 billion from GBP1.09 billion.
Marshall said it achieved record results from both the retail and leasing segments, with pretax profit up by 29% and 24%, respectively.
Within retail, new car unit sales grew by 9.9% year-on-year, while used car unit sales increased by 8.2%, and aftersales revenue rose by 8.5%.
The good results were underpinned by like-for-like organic volume growth and improved gross margin, while also benefiting from contributions from the recent acquisition of car dealer SG Smith, Marshall said.
Marshall will pay a total dividend of 2.98 pence per share.
"Trading in the current financial year has started in line with our expectations. Based on current market conditions and visibility of the important March plate change month, we continue to have confidence in delivering further material growth in 2016, in line with current expectations," Chief Executive Daksh Gupta said in a statement.
Shares in Marshall were trading up 2.4% at 170.00 pence on Thursday morning.
By Karolina Kaminska; [email protected] @KarolinaAllNews
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